Leave Granted Pursuant to Part XXIII.1 of the Ontario Securities Act to Commence Action Against SouthGobi Resources Ltd.
TORONTO, Nov. 12, 2015 /CNW/ - Leave has been granted to commence an
action pursuant to section 138.3 of the Ontario Securities Act against SouthGobi Resources Ltd., by order of the Ontario Superior Court
of Justice ("Court") dated November 5, 2015.
The Plaintiff was granted leave to pursue claims in respect of alleged
misrepresentations in SouthGobi's financial statements and management's
discussion and analysis of financial condition and results of
operations released between March 30, 2011 and August 12, 2013.
The Plaintiff's motion for class certification under the Class Proceedings Act has not yet been decided. That motion seeks to certify the action for a
class of persons who acquired the securities of SouthGobi Resources
Ltd. between March 30, 2011 and November 7, 2013.
A copy of the Court's reasons for granting leave may be found at: http://www.canlii.org/en/on/onsc/doc/2015/2015onsc5948/2015onsc5948.html
SOURCE Siskinds LLP
For further information:
Additional information may be obtained by visiting http://www.siskinds.com/southgobi-resources/ or by contacting Nicole Young, Law Clerk, at 1-800-461-6166, ext 2380.