The Law Offices of Frank R. Cruz reminds investors of the upcoming May 20, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Perpetua Resources Corp. (“Perpetua” or the “Company”) (NASDAQ: PPTA) securities between April 17, 2024, to February 13, 2025, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON PERPETUA RESOURCES CORP. (PPTA), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
What Happened?
On February 13, 2025, Perpetua published an updated cash flow model for its project of the restoration and redevelopment of an Idaho mine, referred to as the Stibnite Gold Project, revealing additional capital expenses of $952 million, more than 75% above the original estimate presented to investors. The Company attributed the price increase on increased costs on inflation, indirect costs, higher mining costs, and direct decisions made with respect to the project, including the choice to change the design of the electrical poles from timber to steel and the decision to “buy-and-build instead of lease the oxygen plant.”
On this news, Perpetua’s stock price fell $2.68, or 22.4%, to close at $9.29 per share on February 14, 2025, thereby injuring investors.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Perpetua’s suggestion of a mere 10% to 20% increase in cost for the Stibnite Gold Project fell well short of reality; (2) the true impact of inflation, increased costs, and, most importantly, decisions management made resulted in a drastic increase in the initial capital expenditure required for the Stibnite Gold Project; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Perpetua securities between April 17, 2024, to February 13, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is May 20, 2025.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: info@frankcruzlaw.com
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250519829126/en/
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
