MONSEY, N.Y., Jan. 26, 2022 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether Gatos Silver, Inc. (NYSE:GATO) (“Gatos”) has violated federal securities laws. If you suffered losses as a result of today’s drop in the price of GATO, and have questions about your legal rights, please contact us using the form below to discuss your options at no charge:
https://wohlfruchter.com/cases/gatos-silver-inc/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On January 25, 2022, after the market closed, Gatos disclosed errors in a technical report that resulted in overestimation of the mineral reserves at its Cerro Los Gatos (“CLG”) mine. Discovery of the errors resulted in a substantial reduction in estimates of the CLG mine’s mineral reserves ranging from 30% to 50%. Gatos said it presently cannot accurately quantify the exact magnitude of the reduction, and the mineral reserve estimates in the technical report should not be relied upon.
This disclosure calls into question the value of the CLG mine, which is the company’s flagship asset.
In reaction to the disclosure, the price of GATO stock dropped nearly 70% as of 1:00 PM Eastern on January 26, 2022.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
