On or around 03/09/2020 (Settlement preliminarily approval)
Filing Date: July 08, 2015
According to the law firm press release, the lawsuit alleges defendants throughout the Class Period issued materially false and misleading statements to investors and/or failed to disclose that: (1) Silver Wheaton’s financial statements contained errors concerning income tax owed from the income generated by its foreign subsidiaries; (2) Silver Wheaton lacked adequate internal controls over its financial reporting; and (3) as a result of the foregoing, Silver Wheaton’s financial statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On October 19, 2015, the Court issued an Order appointing Lead Plaintiff and approving Lead Counsel. Lead Plaintiff filed a consolidated Complaint on December 18. On April 12, 2018, Lead Plaintiff filed a consolidated second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on June 4. On March 25, 2019, the Court issued an Order denying Defendants' Motion to Dismiss.
On February 10, 2020, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on March 9.
Company & Securities Information
Defendant: Silver Wheaton Corp.
Sector: Basic Materials
Industry: Gold & Silver
Ticker Symbol: SLW
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Chris Masillionis, et al. v. Silver Wheaton Corp., et al.
Consolidated Amended Class Action Complaint for Violation of the Federal Securities Laws
Consolidated Second Amended Complaint for Violations of the Securities Laws
Proceedings: (In Chambers) [Redacted] - Defendant Deloitte LLP's Motion to Dismiss Case (Dkt. 287, filed June 4, 2018) Defendants Peter Barnes, Gary Brown, Silver Wheaton Corp., and Gary Smallwood's Motion to Dismiss Case (Dkt. 292, filed June 4, 2018)
Notice of Unopposed Motion and Unopposed Motion for Preliminary Approval of Settlement, Preliminary Certification of Settlement Class, Approval of Plan of Allocation, and Approval to Provide Notice to the Class
U.S. District Court Civil Docket
Stipulation of Settlement
Order Preliminarily Approving Settlement and Providing for Notice Procedures
Related District Court Filings
—Related District Court Filings Data is not available