Silver Wheaton Securities Class ActionThis bulletin is for persons and entities who acquired securities of Silver Wheaton Corp. (now named Wheaton Precious Metals Corp.)
between August 14, 2013 and July 6, 2015 (the “
Class Period”).
Siskinds LLP represents the plaintiff in a proposed securities class action against Silver Wheaton Corp. (“
Silver Wheaton”) and certain of its officers and directors (the “
Class Action”).
The Class Action arises out of Silver Wheaton’s July 6, 2015, announcement that the Canada Revenue Agency had proposed to reassess Silver Wheaton’s income for the 2005 to 2010 taxation years by approximately $715 million. The announcement triggered an immediate and substantial decline in the trading price of Silver Wheaton’s securities.
The Class Action was commenced in September 2016 on behalf of all persons and entities (subject to some exceptions) that acquired Silver Wheaton’s securities (i) pursuant to the prospectus dated March 9, 2015; and/or (ii) in the secondary market between August 14, 2013 and July 6, 2015, inclusive (“
Class Members”).
On behalf of Class Members, the Plaintiff in the Class Action alleges that certain Silver Wheaton disclosures contained misrepresentations related to:
- the likelihood that the Canada Revenue Agency’s audit of Silver Wheaton would result in a material adverse effect on the Company; and
- the compliance of Silver Wheaton’s financial statements with International Financial Reporting Standards.
The Class Action seeks damages of up to $11.87 per Silver Wheaton share for losses incurred by Class Members as a result of the alleged misrepresentations.
The Statement of Claim and other information regarding this Class Action can be viewed at:
classaction.ca/silverwheaton.
If you are a Class Member, or believe you may be a Class Member, please contact Tyler Planeta, a Lawyer at Siskinds LLP, by telephone at 416-594-4588 or by email at tyler.planeta@siskinds.com