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February 26, 2024
PI Global Investments

Gatos Silver’s Board Sued for Misrepresenting Mining Estimates

Gatos Silver Inc.‘s directors are responsible for statements supporting the reliability of a technical report on mineral reserves at a Mexican mine that proved too optimistic, an investor alleges.

Shareholder Noah Orozco’s case, filed Thursday in the US District Court for the District of Delaware, is the second derivative suit in about a month alleging that board members caused the company to say activities at the mine wouldn’t change the information in the report. The other case is also in the District of Delaware.

The suits follow the announcement in July of a proposed $21 million settlement with investors …

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