Ontario Superior Court of Justice, Court File No: CV-13-00491800-00CP
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Pretium owns and operates Brucejack Project. Between November 20, 2012 and October 22, 2013, Pretium disseminated the Brucejack Report (November 2012) and the Tetra Tech Report (June 2013) about the investment quality of its Brucejack Project, and specifically the alleged gold resources and reserves contained within underground mines within the VOK zone. Pretium also published cored documents and press releases based upon these two Reports. These two Reports and Pretium’s related core documents distorted the investment quality of the Company and the Brucejack Project as reflected by the price of Pretium’s share price as traded on the TSX and NYSE.
Cross-examinations of the Defendants’ expert took place in Vancouver on February 3, 2017. On May 29 and 30, 2017, the Ontario Superior Court of Justice heard the Plaintiff’s motion for leave to proceed with a statutory secondary market misrepresentation claim pursuant to s. 138.8 of the Ontario Securities Act. Justice Belobaba granted the Plaintiff’s motion, finding that the Plaintiff had demonstrated a reasonable possibility that he would be successful at trial. Justice Belobaba’s reasons for his decision can be found here.
Claim Issued: October 29, 2013
Class Period: July 23, 2013 to and including October 21, 2013
Leave to Proceed Record Served: June 9, 2016
Shareholders’ Canadian Counsel: Andrew Morganti and Matthew Stroh, Morganti Legal
Shareholders’ U.S. Counsel: Michele S. Carino and John A. Kehoe, Pomerantz LLP; and Phillip C. Kim and Sara E. Fuks, The Rosen Law Firm, P.A.
Defendants’ Canadian Counsel: Andrew Matheson and R. Paul Steep, McCarthy Tétrault LLP
Third Party Strathcona’s Canadian Counsel: Jeffrey Leon, Bennett Jones LLP
Defendants’ U.S. Counsel: Daniel J. Kramer and William B. Michael, Paul, Weiss, Rifkind, Wharton & Garrison LLP