Perpetua Resources(PPTA) Prnewswire·2025-05-16 09:45Core Viewpoint - A class action securities lawsuit has been filed against Perpetua Resources Corp. due to alleged securities fraud that affected investors between April 17, 2024, and February 13, 2025 [1]. Case Details - The lawsuit claims that the defendants misrepresented the expected initial capital expenditure for the Stibnite Gold Project, downplaying the impact of inflation and other cost increases [2]. - On February 13, 2025, Perpetua disclosed an updated cash flow model revealing additional capital expenses of $952 million, representing a more than 75% increase from initial estimates, which were expected to rise by only 10-20% [2]. - The increased costs were attributed to inflation, indirect costs, higher mining costs, and specific design changes made by the defendants, such as switching from timber to steel for electrical poles and opting to buy rather than lease the oxygen plant [2]. - Following this announcement, Perpetua's stock price plummeted from $11.97 per share to $9.29 per share on February 14, 2025, marking a decline of approximately 22.39% in one day [2]. Next Steps - Investors who suffered losses during the specified timeframe have until May 20, 2025, to request to be appointed as lead plaintiff in the lawsuit [3]. - Participation in the lawsuit does not require any out-of-pocket costs or fees for class members [3]. Why Levi & Korsinsky - Levi & Korsinsky has a strong track record in securing compensation for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].