The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Kirkland Lake Gold Ltd. (NYSE: KL) who purchased shares between January 8, 2018 and November 25, 2019. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Kirkland Lake Gold Ltd. lawsuit alleges that (i) Kirkland lacked adequate internal controls over financial reporting, especially as it relates to its projections of risks, reserve grade, and all-in sustaining costs; (ii) as a result of the known, but undisclosed, impending acquisition of Detour, the Company’s projections relating to its risks, reserve grade, and all-in sustaining costs were false and misleading; (iii) the Company’s financial statements and projections were not fairly presented in conformity with International Financial Reporting Standards; (iv) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company’s business, operations, and prospects and/or lacked a reasonable basis and omitted material facts.
Shareholders have until August 28, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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