#USA #New York #Class Action #PPTA #Perpetua Resources Corp.

Class Action Notice: Perpetua Resources Corp.

In a recent announcement, Levi & Korsinsky, LLP revealed a significant class action lawsuit impacting investors of Perpetua Resources Corp. (NASDAQ: PPTA). This legal action highlights crucial information for shareholders, particularly those affected by the alleged securities fraud during the period between April 17, 2024, and February 13, 2025.

Overview of the Lawsuit

The class action lawsuit aims to recover losses incurred by investors who purchased or held shares of Perpetua Resources during the specified timeframe. The plaintiffs argue that the company engaged in misleading practices regarding their financial performance and anticipated expenses, particularly concerning the Stibnite Gold Project.

The lawsuit accuses the defendants of downplaying the impact of inflation and various factors that would lead to increased costs associated with the Stibnite Gold Project. Notably, the company's communications included statements that minimized the expected capital expenditures, which have proven to be misleading.

Increased Capital Expenditures Unveiled

On February 13, 2025, Perpetua disclosed a revised cash flow model for the Stibnite Gold Project. This model revealed a staggering increase in costs, amounting to $952 million, which represents an over 75% hike from the original estimates provided to investors. Such disclosures raised alarms, as the management had previously suggested only a modest increase of approximately 10-20%.

The reasons cited for these additional expenditures include:

• - Inflation-related cost pressures
• - Increased indirect costs
• - Elevated mining costs
• - Strategic changes in project design and execution, such as opting for steel instead of timber for electrical poles and the decision to acquire rather than lease essential equipment like the oxygen plant.

As a direct consequence of this announcement, Perpetua's share price plummeted from $11.97 per share to $9.29 per share, reflecting a decline of around 22.39% in just one trading day.

Action for Affected Investors

Investors who experienced financial losses due to the fluctuating stock prices of Perpetua Resources are encouraged to act quickly. They have until May 20, 2025, to request that the court appoint them as lead plaintiffs in the case. Importantly, participation in the lawsuit and potential recovery does not necessitate serving as a lead plaintiff.

No Financial Obligation

One of the appealing aspects of this class action lawsuit is that it allows shareholders to pursue compensation without incurring any out-of-pocket costs or fees. The law firm Levi & Korsinsky assures that there is no financial obligation involved in participating.

Why Choose Levi & Korsinsky?

With two decades of legal experience, Levi & Korsinsky has a proven track record of recovering substantial financial settlements for shareholders in similar securities litigation cases. Their extensive knowledge and resources, including a dedicated team of over 70 professionals, make them a formidable ally for aggrieved investors.

The law firm has consistently been recognized among the top securities litigation firms in the United States, as evidenced by its ranking in ISS Securities Class Action Services’ Top 50 Report for seven consecutive years.

Contact Information

For more details regarding this case or to connect with a member of the Levi & Korsinsky team, investors can reach out directly to:

• - Joseph E. Levi, Esq.
• - Ed Korsinsky, Esq.
• - Address: 33 Whitehall Street, 17th Floor, New York, NY 10004
• - Email: [email protected]
• - Phone: (212) 363-7500

For further information and to submit a claim, interested investors can follow this link.

This class action lawsuit underscores the critical rights of shareholders to seek justice and seek reparations for their financial losses.