Trevali Mining ($TV) CAD $2.8M Investor Settlement

$2,800,000

Cash Settlement

VLC-S-S-228113

Case number

04/14/2022

Class period Start

08/15/2022

Class period End

12/04/2025

Claim deadline

Trevali Mining Corporation ($TV) has agreed to settle CAD $2.8M with investors to resolve claims that it misled them about operational and safety risks and withheld key details about problems that contributed to the fatal Perkoa Mine flooding.

Outline:

Trevali reported on its mining operations and financial performance during the class period. Investors later alleged the company failed to disclose important operational and safety risks. In August 2022, severe flooding at the Perkoa Mine in Burkina Faso killed eight workers and halted operations. After the stock declined and investors filed suit, Trevali later agreed to a CAD $2.8 million settlement.

Timeline:

October 9, 2020: Start of the class period for affected Trevali investors.
August 2022: Flooding at the Perkoa Mine in Burkina Faso resulted in eight fatalities and halted operations.
August 15, 2022: $TV declined as operational and governance concerns intensified.
2023: Investors filed a securities class action in British Columbia alleging misrepresentation.
March 11, 2025: Trevali executed a CAD $2.8 million settlement agreement.
August 5, 2025: The court approved the settlement.
Background:

Trevali Mining Corporation is a Canadian-based zinc mining company with operations in several countries. During the class period, the company provided updates to investors regarding production levels, financial performance, and operational developments across its mining assets.

In August 2022, severe flooding occurred at Trevali’s Perkoa Mine in Burkina Faso, trapping and killing eight miners. The incident halted operations and triggered scrutiny of the company’s safety practices, risk management, and oversight of the site.

Investors later alleged that Trevali had not adequately disclosed operational and safety risks tied to the Perkoa Mine before the incident. According to the claims, earlier public statements did not fully reflect the risks associated with the mine’s operations and management practices.

Following the incident and related disclosures, $TV declined and investors filed a securities class action alleging the company misrepresented the state of its operations and failed to warn investors about material safety and management risks.

What Can Investors Expect Now?

Trevali Mining agreed to a CAD $2.8 million settlement with $TV investors to resolve claims tied to statements about operational and safety risks related to the Perkoa Mine.

If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section.

Case Type

Canadian Securities Class Action

Case Status

Distribution Preparation

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose

Suspected Party

Management

Security Type

Stocks

Trade Direction

Long

Plaintiffs

Michael Demmer, Rodney Brunk, Tim Kempter, William Williamson

Defendants

Ricus Grimbeek ; Brendan Creaney ; Jill Gardiner ; Russell Ball ; Aline Cote ; Nick Popovic ; Jeane Hull ; Dan Isserow ; Richard Williams

Attorney fee

$898,079

Trades matching type

FIFO

Frequently Asked Questions

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