Breaking News: A Securities Class Action Lawsuit Against Newmont Corporation
New York, NY, February 4, 2025. Levi & Korsinsky, LLP, a prominent securities litigation firm, has announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors in Newmont Corporation (“Newmont” or the “Company”) (NYSE: NEM). The complaint alleges that Newmont and certain of its top executives violated securities laws by making false and misleading statements to the investing public.
Allegations Against Newmont
According to the complaint, the defendants made false and/or misleading statements and/or failed to disclose that:
- Newmont had inadequate internal controls over financial reporting;
- The Company had overstated its mineral reserves and resources;
- Newmont had failed to disclose related party transactions;
- The Company’s financial statements were not in accordance with Generally Accepted Accounting Principles (“GAAP”)
Impact on Individual Investors
The filing of this class action lawsuit may have significant implications for individual investors who purchased or otherwise acquired Newmont securities between specific dates. The complaint seeks to recover damages on behalf of these investors, who may have relied on the defendants’ misrepresentations to their detriment. If the allegations prove to be true, investors may be able to recover their losses.
Global Implications
Beyond the impact on individual investors, this lawsuit could have far-reaching consequences for the mining industry as a whole. The allegations, if proven, could tarnish the reputation of Newmont and the mining industry as a whole, potentially leading to increased scrutiny and regulation. Additionally, this lawsuit could serve as a reminder to all publicly traded companies of the importance of maintaining accurate financial reporting and disclosure.
Conclusion
The filing of this securities class action lawsuit against Newmont Corporation is a significant development for investors and the mining industry. As the case progresses, it will be important for investors to stay informed about any new developments. If you purchased or otherwise acquired Newmont securities between the specified dates and believe you may be affected by this lawsuit, we encourage you to contact Levi & Korsinsky, LLP for a free consultation. For more information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500.
This communication is not a law firm advertisement, and it is not a solicitation or an offer to provide legal services in any jurisdiction where we are not authorized to practice law. The securities mentioned in this press release were not offered or sold by Levi & Korsinsky, LLP. While the information provided herein is believed to be accurate, Levi & Korsinsky, LLP makes no representations or warranties with respect to the accuracy or completeness of the information and such information is subject to change without notice. Levi & Korsinsky, LLP is not responsible for any errors or omissions in the information provided, and cannot assure you of the outcome of any legal claim.
Please note that the law firm may be compensated for its services in the form of contingency fees, which are contingent upon a favorable outcome of the lawsuit. The amount of the contingency fee is not determined by the length of your representation but is instead calculated based on the amount recovered. Contingency fee rates may vary from case to case depending on the specific facts and circumstances of each case.
