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Lawsuit filed for Investors in shares of Golden Star Resources Ltd. (NYSE: GSS)

04-09-2020 09:43 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Golden Star Resources Ltd. (NYSE: GSS) shares.

A lawsuit was filed on behalf of investors in Golden Star Resources Ltd. (NYSE: GSS) shares.

The Shareholders Foundation announced that an investor, who purchased shares of Golden Star Resources Ltd. (NYSE: GSS), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Golden Star Resources Ltd.

Investors who purchased shares of Golden Star Resources Ltd. (NYSE: GSS) have certain options and for certain investors are short and strict deadlines running. Deadline: June 1, 2020. NYSE: GSS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On Feb. 19, 2019, Golden Star Resources Ltd. announced its financial and operational results for the fourth quarter and full year ("FY") ended December 31, 2018 and issued its guidance for its full year 2019.

On July 31, 2019, Golden Star Resources Ltd. reported its financial and operational results for the second quarter ended June 30, 2019 and revised its fully year 2019 guidance.

Shares of Golden Star Resources Ltd. (NYSE: GSS) declined from $4.97 per share on July 17, 2019 to as low as $2.68 per share on August 14, 2019.

The plaintiff claims that between February 20, 2019 and July 30, 2019, the defendants made false and/or misleading statements and/or failed to disclose that the Company had insufficient geological and geotechnical data in its Prestea mine, that the Company had experienced deficiencies in its operating practices and mining methods including inaccurate long hole drilling and blasting in its Prestea mine, that the Company did not have the mining flexibility and more measured resources to ensure higher reserve grade, that the Company had experienced increased tonnage at much lower grade where it had to supplement some of the production with oxide material, that the Company had excessive dilution which drove lower mining rates at the Prestea mine, and that as a result, defendants' public statements were materially false and/or misleading at all relevant times.

Those who purchased shares of Golden Star Resources Ltd. (NYSE: GSS) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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