The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the District of Idaho on behalf of shareholders of Perpetua Resources Corp. who purchased securities between April 17, 2024 and February 13, 2025.
According to the complaint, defendants provided investors with material information concerning Perpetua’s expected initial capital expenditure for the Stibnite Gold Project. Defendants’ statements included, among other things, minimization of the impact of inflation and other potential sources for increased capital expenditure costs for the project. On February 13, 2025, Perpetua published an updated cash flow model for the Stibnite Gold Project, unveiling additional capital expenses of $952 million, a more than 75% increase from the original figures presented to investors and well beyond the suggested 10-20% increase contemplated by defendants. The Company attributed these increased costs on inflation, indirect costs, higher mining costs, and direct decisions defendants 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.” Following this news, the price of Perpetua’s common stock declined dramatically. From a closing market price of $11.97 per share on February 13, 2025, Perpetua’s stock price fell to $9.29 per share on February 14, 2025, a decline of about 22.39% in the span of just a single day.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until May 20, 2025 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
