Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Katanga Mining Limited (OTC:KATFF) in connection to alleged violations of securities laws by KATFF. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in Katanga Mining Limited between February 11, 2016 and November 19, 2017.
The class action complaint specifically alleges that during the period in question, KATFF might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: that the company employed improper accounting methods; that the company’s internal controls governing financial reporting practices suffered from material deficiencies; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true facts emerged, investors suffered losses.
According to the the company’s website, Katanga Mining Limited is a mining company that “operates a large-scale copper-cobalt project with substantial high-grade mineral reserves and integrated metallurgical operations in the Democratic Republic of Congo.” The company’s single-site operation includes brownfield assets and facilities that remain under construction; the company boasts that it will “have one of the lowest unit production costs in the world, net of by-product credits.” In January 2008 it merged with Nikanor PLC, and it also has a 75% stake in “two joint ventures with Gécamines, a state-owned mining company” in the Democratic Republic of the Congo. The company trades on the Toronto Stock Exchange under the symbol KAT, and over-the-counter in the United States under the symbol KATFF.
A class action lawsuit has already been filed in connection with Katanga Mining Limited. If you wish to serve as lead plaintiff in the KATFF lawsuit, you must move the Court no later than January 29, 2018. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.