NAK.US
id: 756
Northern Dynasty Minerals (NAK) $6.4M Shareholder Settlement
The settlement funds have been distributed to claimants.
$6,375,000
Cash SettlementE.D. New York
Court1:20-cv-05917
Case number12/21/2017
Class period Start11/24/2020
Class period End12/14/2023
Claim deadlineNorthern Dynasty Minerals (NAK) settles $6.375 million with investors in litigation over Pebble Project.
The Complaint alleged that NAK made false and/or misleading statements and/or failed to disclose that:
- the Company’s Pebble Project was contrary to Clean Water Act guidelines and to the public interest;
- the Company planned that the Pebble Project would be larger in duration and scope than conveyed to the public;
- As a result, the U.S. Army Corps of Engineers would deny the Company’s permit applications for the Pebble Project.
Case Status
Disbursed
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.02
Filing date
12/04/2020
Plaintiffs
Lawrence Kelemen, Charles Hymowitz
Attorneys
Pomerantz LLP
Defendants
Ronald W. Thiessen, Thomas C. Collier, Jr.
Judge
Hon. Eric N. Vitaliano
Administrator
EPIQ
Settlement agreement date
2023-08-24
Court hearing date
12/07/2023
Exclusion deadline
11/16/2023
Objection deadline
11/16/2023
Hearing deadline
11/16/2023
Attorney fee
$0.02
Trades matching type
FIFO
Disbursement date
08/29/2024