Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Perpetua To Contact Him Directly To Discuss Their Options
If you suffered losses exceeding $50,000 in Perpetua between April 17, 2024 and February 13, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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NEW YORK, April 13, 2025 (GLOBE NEWSWIRE) — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Perpetua Resources Corp. (“Perpetua” or the “Company”) (NASDAQ: PPTA) and reminds investors of the May 20, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the true cost of the Stibnite Gold Project; notably, the true impact of inflation and undisclosed decisions Defendants had made or were otherwise contemplating which had resulted in a drastic increase in projected initial capital expense. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Perpetua’s securities at artificially inflated prices.
On February 13, 2025, after market hours, Perpetua Resources filed a current report on form 8-K with the SEC. This current report stated in part that the company had “released an updated cash flow model for the Stibnite Gold Project (the “Project”), which is based, in part, on basic engineering work completed by Ausenco Engineering USA South Inc. (“Ausenco”) in January 2025 (the “Financial Update”).” It further stated that the “Financial Update also applies fourth quarter 2024 cost estimates for construction and operations, consistent with the Basic Engineering analysis, as well as current and consensus commodity pricing for sales. While the Financial Model reflects an increase in initial and total capital expenditures and LOM AISC compared to the base model included in the 2020 Feasibility Study, the corresponding increase in commodity prices resulted in overall improvements to key economic metrics of Annual Average EBITDA and Annual Average Free Cash Flow while maintaining a similar after-tax NPV 5% at consensus pricing.”
Following this news, the price of Perpetua Resources common stock fell over 22% on February 14, 2025.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Perpetua’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Perpetua Resources Corp. class action, go to www.faruqilaw.com/PPTA or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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