SSR Mining ($SSRM) Concealed Structural Risks and Misled Investors on Çöpler Mine Safety Case

A formal lawsuit has been filed in court initiating the class action.

S241960

Case number

03/30/2021

Class period Start

02/27/2024

Class period End

$SSRM investors filed a claim against SSR Mining for concealing critical safety and engineering risks at its flagship Çöpler Mine in Türkiye.
After a catastrophic collapse on February 13, 2024, released millions of tonnes of cyanide-infused ore, causing environmental devastation, fatalities, and suspension of operations, $SSRM shares plunged as the company revealed the truth in a series of corrective disclosures through February 27, 2024.
$SSRM investors can join this case to be notified about potential recovery.
Case Details:

Between March 30, 2021, and February 27, 2024, SSR Mining repeatedly assured investors that the Çöpler Mine was operating safely within approved engineering parameters and environmental capacity. Executives claimed the company maintained robust geotechnical surveys, slope stability monitoring, and environmental safeguards.

In reality, internal reports and operational data indicated the heap leach pad was loaded beyond its approved capacity, with structural instability, inadequate monitoring systems, and ignored engineering warnings. The company failed to disclose these material risks despite knowing the potential for catastrophic failure.

On February 13, 2024, the heap leach pad collapsed, triggering environmental damage, fatalities, and an immediate shutdown of operations. Over the following two weeks, SSR Mining issued disclosures correcting prior misrepresentations, acknowledging safety deficiencies and operational failures. $SSRM’s share price fell sharply, inflicting heavy losses on investors.

Based on these events, $SSRM investors filed a claim against SSR Mining, alleging the company:
It misrepresented safety conditions, operational compliance, and engineering integrity at the Çöpler Mine.
It concealed internal knowledge of structural hazards and environmental capacity breaches.
It artificially inflated its stock price by assuring investors of safe and compliant operations until the collapse exposed the truth.
Investors argue SSR Mining misled the market about the true operational and environmental risks to protect its valuation and reputation.

Case Type

Canadian Securities Class Action

Case Status

Initial Complaint

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Fraud,

Failure to Disclose

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

02/13/2024

Filing date

03/18/2024

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