Sibanye Gold Limited : American Depositary Shares Securities Litigation
On or around 11/12/2020 (Date of order of final judgment)
Filing Date: June 27, 2018
According to the Plaintiff's law firm press release issued on June 27, 2018, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Sibanye’s culture places short-term profits over safety; (2) consequently, almost half of South Africa’s 2018 mining fatalities occurred in Sibanye mines; and (3) as a result, defendants’ statements about Sibanye’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On December 17, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed a consolidated, amended Complaint on April 8, 2019.
On November 10, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. This case was ordered closed.
Company & Securities Information
Defendant: Sibanye Gold Limited
Sector: Basic Materials
Industry: Gold & Silver
Headquarters: Republic of South Africa
Ticker Symbol: SBGL
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
Kevin Brandel, et al. v. Sibanye Gold Limited, et al.