Agnico-Eagle Mines Ltd. is a Canadian gold mining company with operations in North America and Finland.

According to a press release dated November 7, 2011, the Complaint charges the Defendants with violations of the federal securities laws in connection with allegedly fraudulent financial disclosures.

Specifically, the Complaint alleges that throughout the Class Period, the Company's financial results were artificially inflated by virtue of the fact that the Company concealed material adverse problems present at one of its mines which eventually forced the Company to shut down the mine and write off a $260 million investment in the mine.

On October 19, 2011, the Company issued a press release disclosing the mine’s closure and due to this unexpected closure, the Company would take a $260 million write off of its investment. This news shocked the market, resulting in an 18.54% decline in the value of the Company’s stock on October 19th after the news was revealed. On that day, the shares closed at $46.51, down $10.59, on unusually high New York Stock Exchange volume.

On February 6, 2012, the Court issued an order of consolidation, appointed lead Plaintiff, and approved the selection of lead Counsel.

On April 6, 2012, Plaintiffs filed a consolidated class action Complaint.

On January 14, 2013, the Court granted the Defendants’ motion to dismiss and issued a subsequent judgment in the matter.

On February 12, 2013, the lead Plaintiff filed a notice of appeal from the January 14 judgment. The Court of Appeals affirmed the District Court's judgment on October 24.