NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Golden Star Resources Ltd. (“Golden Star” or the “Company”) (NYSEAMERICAN: GSS). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Golden Star and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 31, 2019, Golden Star announced disappointing second-quarter 2019 financial results, wherein the Company materially cut its production guidance and increased its cash operating cost estimates. Golden Star disclosed that multiple issues had negatively impacted its mines, including the use of insufficient geological and geotechnical data and poor drilling strategies and techniques.
On this news, Golden Star’s stock price fell $0.75 per share, or 17%, to close at $3.55 per share on July 31, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.