GOLD 1287.55 $/ozChange: 0.05
PLATINUM 1424.00 $/ozChange: -2.00
R/$ exchange 10.66Change: -0.03
R/€ exchange 14.00Change: 0.01
 
We have detected that the browser you are using is no longer supported. As a result, some content may not display correctly.
We suggest that you upgrade to the latest version of any of the following browsers:
         
close notification
powered by
Advanced Search
 
 
 
Home
 
Most Popular Articles - Americas
 
 
PALLADIUM
 
North American Palladium targeted in class action suit
PRINT
 
 
Embed Code Close
content
 
3rd September 2011
TEXT SIZE
Text Smaller Disabled Text Bigger
 

TORONTO (miningweekly.com) – Toronto- and New York-listed North American Palladium (NAP) said on Friday it was aware that an unnamed claimant intended to launch a class action lawsuit against it for alleged misrepresentations.

In a thinly worded statement, NAP said it had hired lawyers and intended to defend itself vigorously against the potential claim.

The company didn’t say who had applied to the Ontario Superior Court of Justice to start the class action suit, or how much it intended to sue NAP for, only that it was for "alleged misrepresentations in the company's public disclosure".

It made the announcement after the markets had closed, and a spokesperson wasn’t available to comment.

NAP operates the Lac des Iles palladium mine in northern Ontario, and also owns the Sleeping Giant gold mine located in the Abitibi region of Quebec.

Palladium is a silvery white metal used in car exhaust systems to reduce emissions, and is also used to make white gold for jewellery.
 

Edited by: Creamer Media Reporter

 

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.

FULL Access to Mining Weekly and Engineering News - Subscribe Now!
Subscribe Now Login
 
 
Topics in this article