SAN FRANCISCO, CA – (April 3, 2024) – National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in SSR Mining, Inc. (“SSR Mining” or the “Company”) (NASDAQ: SSRM) who suffered losses from purchasing or otherwise acquiring publicly traded SSR Mining securities between February 23, 2022 and February 27, 2024, inclusive (the “Class Period”), to contact us immediately regarding a pending securities fraud class action against SSR Mining. The deadline to apply to be lead plaintiff is May 17, 2024.
Class Period: February 23, 2022 – February 27, 2024
Lead Plaintiff Motion Deadline: May 17, 2024
Case information: lieffcabraser.com/securities/ssr
Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358
SSR Mining is a mining company with four mining assets worldwide, located in the United States, Turkey, Canada, and Argentina.
The action alleges that during the Class Period, the Company made materially false and misleading statements regarding the Company’s operations, including (i) overstating SSR Mining’s commitment to safety and the efficacy of its safety measures, and (ii) failing to disclose that it was engaged in unsafe mining practices that were reasonably likely to result in a mining disaster.
On February 13, 2024, before the market opened, the Company announced that it had suspended operations at its Copler, Turkey gold mine because of a large landslide, which resulted in nine missing miners (the miners were declared dead several days later). On this news, the Company’s stock price fell $5.22 per share, or 53.7%, to close at $4.50 per share, on February 13, 2024.
On February 16, 2024, reporting revealed that eight SSR Mining employees in Turkey had been detained after the landslide, and that the Turkish government had filed criminal charges against six of them.
Then, on Sunday February 18, 2024, Sky News reported that a director and senior vice-president of operations at SSR Mining had been detained. The same day, a Company press release did not contest that criminal charges proceeding against six Company employees were filed on legitimate grounds. On this news, the price of SSR Mining stock declined by $0.29 per share, or 5.90%, to close at $4.62 per share on the next trading day, February 20, 2024.
On February 27, 2024, the Company withdrew its 2024 and long-term guidance forecasts in light of the suspension, and stated that it was in the process of evaluating anticipated remedial costs for the Copler mine, including extensive environmental clean-up. On this news, the price of SSR Mining stock dropped by $0.37 per share, or 7.93%, to close at $4.29 on February 28, 2024.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 125 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Repeatedly recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.
Source/Contact
Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com
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