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March 5, 2021 - A stipulation of settlement was filed by the parties.
July 22, 2020 - A corrected amended complaint was filed.
April 11, 2020 - An amended complaint was filed.
November 29, 2017 - An investor in shares of KATANGA MINING LTD (OTCMKTS: KATFF) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by KATANGA MINING LTD in connection with certain allegedly false and misleading statements made between February 11, 2016 and November 19, 2017.
According to the complaint the plaintiff alleges on behalf of purchasers of KATANGA MINING LTD (OTCMKTS: KATFF) common shares between February 11, 2016 and November 19, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 11, 2016 and November 19, 2017, the defendants made false and/or misleading statements and/or failed to disclose that KATANGA MINING LTD engaged in improper accounting practices, that there were material weaknesses in KATANGA MINING LTD’s internal control over financial reporting, and that as a result, KATANGA MINING LTD’s public statements were materially false and misleading at all relevant times. KATANGA MINING LTD is a Switzerland-based holding company that, through its subsidiaries, produces copper and cobalt metal and that have copper and cobalt assets in the Democratic Republic of Congo.
On November 20, 2017, KATANGA MINING LTD announced the resignation of three executives of Glencore plc, KATANGA MINING LTD's parent company, from KATANGA MINING LTD's board of directors after an internal review found material weaknesses in the Company's financial reporting controls. KATANGA MINING LTD stated that questions about the appropriateness of certain of KATANGA MINING LTD's accounting practices arose during the course of an investigation by the Ontario Securities Commission (the OSC ). KATANGA MINING LTD restated certain historical financial statements for the years 2015 and 2016, as well as the first quarter of 2017, and advised investors that the Company's previously filed consolidated financial statements for the years ended December 31, 2016, 2015 and 2014 and related MD&A [management's discussion and analysis] and all interim consolidated financial statements and interim MD&A since December 31, 2014 should not be relied upon. In addition, KATANGA MINING LTD advised investors that OSC enforcement staff are also investigating the adequacy of Katanga's corporate governance practices and compliance with those practices and the related conduct of certain directors and officers of Katanga and Katanga's risk disclosure in connection with applicable requirements under certain international bribery, government payment and anti-corruption laws.