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Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Newmont Corporation (NEM)

1. A class action lawsuit has been filed against Newmont Corporation. 2. Lawsuit claims false statements regarding revenue projections and mining capabilities. 3. On October 23, 2024, Newmont announced lower production and higher costs. 4. Following the announcement, NEM's stock price dropped nearly 15%. 5. The lawsuit impacts all investors who purchased shares from February to October 2024.

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FAQ

Why Bearish?

News of legal action typically impacts stock prices negatively, exemplified by NEM's 15% drop.

How important is it?

The lawsuit centers directly around NEM's operations and financial disclosures affecting investor trust.

Why Short Term?

The immediate effects of the lawsuit will likely weigh on NEM's price in the coming months.

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NEM
NEW YORK, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Colorado on behalf of all persons or entities who purchased or otherwise acquired Newmont Corporation (“Newmont” or the “Company”) (NYSE: NEM) securities between February 22, 2024 and October 23, 2024, inclusive (the “Class Period”). The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Defendants created the false impression that they possessed reliable information pertaining to Newmont’s projected revenue outlook and ability to deliver growing gold and mineral production at its Tier 1 portfolio operations through mining and cost profile improvements; and (ii) Defendants provided the public with materially flawed statements of confidence and growth projections which did not account for these variables. The Complaint further alleges that on October 23, 2024, Newmont announced disappointing third quarter earnings before interest, taxes, depreciation, and amortization, lower production guidance, and an increase in Newmont’s operating costs. On this news, the price of Newmont stock fell nearly 15%, according to the complaint. Investors who purchased or otherwise acquired shares of Newmont should contact the Firm prior to the April 1, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com. Please visit our website at http://www.gme-law.com for more information about the firm.

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