NEW YORK, July 16, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Kirkland Lake Gold Ltd. (“Kirkland” or the “Company”) (NYSE: KL). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Kirkland and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 25, 2019, Kirkland announced entry into a definitive agreement to acquire all outstanding securities of Detour Gold Corporation for $3.68 billion (the “Detour Acquisition”). Following the announcement, investment analysts questioned the economics of the Detour Acquisition, which had the effect of significantly increasing Kirkland’s all-in sustaining costs and was extremely dilutive of Kirkland’s reserve grade, and downgraded the Company’s price target.
On news of the Detour Acquisition, Kirkland’s stock price fell $8.18 per share, or 17.18%, to close at $39.44 on November 25, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
