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AuRico Gold Reaches $13.25M Settlement in Securities Class Action Lawsuit


This is a settlement for the Securities/Stock Fraud lawsuit.

New York, NY: AuRico Gold Inc. (TSX: T.AUQ, Stock Forum) (NYSE: AUQ, Stock Forum) has reached a settlement deal related to a securities class action lawsuit that was launched in 2008 when the company was known as Gammon Gold.

The settlement agreement, which provides for a payment of $13.25 million to the settlement class, does not contain any admission of wrongdoing and is subject to certain conditions, including court approval.

The lawsuit was filed in March 2008 by a company shareholder who accused the gold miner of stock option manipulation and making unrealized production forecasts for its Mexican gold mines in the months leading up to a $200 million financing in April 2007.

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Published on Nov-6-12


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