Gatos Silver (GATO) Report Errors Case $21M Settlement
Gatos agreed to pay $21M to investors to resolve the claims over errors in a technical report.
Case Details:
On January 25, 2022, Gatos Silver disclosed errors in a technical report, suggesting a potential 30-50% reduction in mineral reserve metal content.
This news led to a 69% $GATO drop on January 26, 2022, and $GATO traded nearly 54% below the IPO price.
Gatos was accused of not disclosing errors in the technical report and the overestimation of mineral reserves.
Gatos has now decided to end these allegations and pay a $21M settlement.
Frequently Asked Questions
All persons who purchased or otherwise acquired Gatos common stock during the period from October 28, 2020 through January 25, 2022 (both inclusive), or purchased or otherwise acquired publicly traded call options on Gatos common stock and/or sold publicly traded put options on Gatos common stock during the period from December 9, 2020 through January 25, 2022 (both inclusive).
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:
Prepare documents for your payout
Audit the claim and make sure you get the maximum possible payout
File a claim with the settlement administration
Correspond with the settlement administration to resolve emerging issues
Deliver payout directly to your brokerage account
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.