Investors with losses of $50,000 or more are encouraged to contact the firm, click here to submit your trade information
LOS ANGELES, July 31, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Kirkland Lake Gold Ltd. (“Kirkland”) (NYSE: KL) investors that acquired securities between January 8, 2018 and November 25, 2019, inclusive (the "Class Period"). The lawsuit alleges that Kirkland failed to disclose to investors that Kirkland lacked adequate internal controls over financial reporting, especially as it relates to its projections of risks, reserve grade, and all-in sustaining costs.
Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.
According to the lawsuit, Kirkland made false and/or misleading statements and/or failed to disclose that: (1) Kirkland lacked adequate internal controls over financial reporting, especially as it relates to its projections of risks, reserve grade, and all-in sustaining costs; (2) as a result of the known, but undisclosed, impending acquisition of Detour Gold Corporation, Kirkland's projections relating to its risks, reserve grade, and all-in sustaining costs were false and misleading; (3) Kirkland's financial statements and projections were not fairly presented in conformity with International Financial Reporting Standards; and (4) based on the foregoing, defendants lacked a reasonable basis for their positive statements about Kirkland's business, operations, and prospects and/or lacked a reasonable basis and omitted material facts. When the true details entered the market, the lawsuit claims that investors suffered damages.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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