1. Newmont faces a class action lawsuit over alleged securities fraud. 2. Lawsuit covers losses from February 2024 to October 2024. 3. October 2024 press release highlighted disappointing EBITDA and higher costs. 4. Newmont's stock dropped significantly post-announcement, from $57.74 to $49.25.
The announcement of a lawsuit coupled with poor financial performance typically leads to negative sentiment and stock price decline, similar to past incidents in other companies facing legal actions. Investors may be wary, leading to further selling pressure on NEM.
The lawsuit could affect investor confidence and future stock performance, making it highly relevant to NEM's market position. Legal challenges often deter potential investors and signal deeper financial troubles.
Immediate investor reactions to the lawsuit and recent poor earnings reports may cause short-term volatility. Similar past events often lead to significant price changes in the weeks following the news.
Levi & Korsinsky, LLP notifies investors in Newmont Corporation ("Newmont" or the "Company") (NYSE: NEM) of a class action securities lawsuit.
The lawsuit seeks to recover losses on behalf of Newmont investors who were adversely affected by alleged securities fraud between February 22, 2024 and October 23, 2024. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/newmont-corporation-lawsuit-submission-form?prid=128398&wire=4
NEM investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
According to the complaint, on October 23, 2024, Newmont published a press release announcing disappointing EBITDA third quarter 2024 highlights, in addition to decreases in production and increases in operating costs. In pertinent part, Newmont revealed that mining operations at its two Tier 1 assets would see lower production than originally guided with expectations of higher costs at these facilities. Following this news, Newmont's stock price fell from a closing market price of $57.74 per share on October 23, 2024 to $49.25 per share on October 24, 2024.
If you suffered a loss in Newmont during the relevant time frame, you have until April 1, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP