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Kinross Gold Corporation KGC Securities Stock Fraud


Company: Kinross Gold Corporation
Ticker Symbol: KGC
Class Period: Feb-16-11 to Jan-17-12
Date Filed: Feb-20-12
Lead Plaintiff Deadline: Apr-20-12
Court: Southern District of New York
Allegations:
West hartford, CT: A securities lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Kinross Gold Corporation ("Kinross" or the "Company") between February 16, 2011 and January 17, 2012, inclusive (the "Class Period").

The Complaint alleges Kinross and certain of its officers and directors violated the federal securities laws by issuing materially false and misleading statement regarding the Company's business and prospects.

Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (i) that the drilling results at the Kinross Tasiast property had exhibited high amounts of low-grade ores and that because of this the Company would need to modify its mining processes to help minimize operating costs and maximize profitability; (ii) that, as a result of the foregoing circumstances, applicable accounting standards required the Company to record an impairment in the value of goodwill that Kinross attributed to the Tasiast property; (iii) that the Company's financial statements were not fairly presented in conformity with International Financial Reporting Standards and were materially false and misleading; and (iv) that, based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company, its business prospects and the Tasiast property during the Class Period.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Kinross Gold Corporation KGC Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Kinross Gold Corporation securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.
Published on Feb-21-12


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