(TSX: THO; NYSE: TAHO; ISIN: CA8738681037; CUSIP:
873868103)
TORONTO and LONDON, ON, Nov. 19,
2018 /CNW/ - Siskinds LLP today announced the filing of a
proposed securities class action against Tahoe Resources Inc.
(Tahoe) and its former CEO and director, Ronald W. Clayton, in Toronto, Ontario (Action). The Action
was commenced on October 4, 2018.
The Action alleges that a press release issued by Tahoe on
May 24, 2017 contained
misrepresentations. The press release concerned the commencement of
an action against the Guatemalan Ministry of Energy and Mines
(MEM) by Centro de Acción Legal Ambiental y Social de
Guatemala (CALAS), in
the Supreme Court of Guatemala. It
is alleged that the May 24, 2017
press release did not provide adequate disclosure about the CALAS
proceeding. Specifically, the Action alleges among other things
that:
- Tahoe's Guatemalan operating subsidiary, Minera San Rafael S.A., had been named as an
interested third party in the proceeding commenced by CALAS;
- CALAS was seeking to suspend the Escobal mining license
provisionally and until MEM met its consultation obligations to the
Xinka indigenous people of Guatemala;
- there was a material risk that the Escobal mining license would
be provisionally suspended, as in fact occurred; and
- there was a material risk that the Escobal mining license would
be suspended beyond the period of the provisional suspension, as
also in fact occurred.
It is alleged that Tahoe was required to disclose those facts in
its May 24, 2017 press release but
failed to do so.
The action alleges that Tahoe shareholders who acquired its
securities from and including May 24,
2017 to and including July 5,
2017 (Class Period) suffered damage as a result of
the alleged misrepresentations. Subject to certain exclusions, the
proposed class includes all persons and entities, wherever
domiciled, who acquired Tahoe securities during the Class
Period.
The claims being pursued in the Action are claims for damages
for losses allegedly suffered as a result of Tahoe's alleged
misleading disclosure. The plaintiff claims Tahoe and Mr. Clayton
have liability for those losses.
Class Member Contacts:
If you hold or previously held securities of Tahoe acquired
during the Class Period, we encourage you to complete the
information form on the website of Siskinds LLP at
https://www.siskinds.com/tahoe by clicking on the "Receive Updates
on this Case" link.
For inquiries, please click on the "Ask a Question" link on the
Siskinds website above or email tahoe@siskinds.com. For telephone
inquiries, please call 1-800-461-6166 x 2206.
Institutional investors with specific inquiries should
contact:
Nicholas Baker
Tel: +1 519-660-7868
Toll Free: +1-800-461-6166 x7868
nicholas.baker@siskinds.com
Media Contacts:
Anthony O'Brien
Siskinds LLP
anthony.obrien@siskinds.com
416-594-4394
The Siskinds LLP class actions team has offices
in London and Toronto, and an affiliate office in
Québec City. The team, comprised of 25 lawyers admitted to practice
in Ontario, Quebec, New York State and
the District of Columbia, acts exclusively for plaintiffs.
Over the years, Siskinds' class action team has recovered hundreds
of millions of dollars for class members in Canada and
elsewhere. If you are looking for Canada's top-ranked law firm* to represent
your class action lawsuit, contact us today.
* Siskinds LLP is ranked in the top band of the Chambers Canada
2019 guide. The guide is compiled by global legal review
organization, Chambers and Partners. Siskinds LLP is the highest
ranked Canadian law firm and the 16th ranked North American law
firm in the most recent edition of the Institutional Shareholder
Services (ISS) Securities Class Action Services Top 50 Report. The
report lists the top 50 plaintiff-side law firms ranked by the
total dollar value of the final class action settlements occurring
in 2017 in which the law firm served as lead or
co-counsel.
SOURCE Siskinds LLP