NEW YORK, July 2, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Sibanye-Stillwater Limited (f/k/a Sibanye Gold Limited) ("Sibanye" or the "Company") (NYSE: SBGL). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Sibanye and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 13, 2018, The Mercury published an article entitled "Mine puts profits before lives – claim", reporting that Sibanye supervisors forced miners to work in dangerous conditions. On this news, Sibanye's American depositary receipt ("ADR") price fell $0.07, or 2.6%, to close at $2.56 on June 13, 2018. On June 26, 2018, Bloomberg reported that "another worker was killed at [Sibanye's] Driefontein operation in South Africa, bringing the total deaths at the company's mines this year to 21." The Bloomberg article stated that Sibanye "accounts for nearly half of the 46 people killed in South African mines in 2018 and is already the subject of an investigation by the chief inspector of mines." On this news, Sibanye's ADR price fell $0.31, or 10.99%, to close at $2.51 on June 26, 2018. Then, on June 27, 2018, Bloomberg reported that Citigroup Inc. cut its recommendation on Sibanye's stock from "buy" to "neutral", citing Sibanye's "track record" from "an environmental, social and governance perspective, as well as the underlying investment risk that it holds." On this news, Sibanye's ADR price fell $0.26, or 10.36%, to close at $2.25 on June 27, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP