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ARTICLE · 11 MAY 2024

Plaintiff Reaches Further Settlement In Canadian Gatos Silver Securities Class Action

Siskinds LLP
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The Court-appointed representative of a class of shareholders of Gatos Silver, Inc. ("Gatos Silver") has reached a settlement with the remaining Defendants in the class action, including Gatos Silver.

CanadaLitigation, Mediation & Arbitration
Siskinds LLP
Siskinds LLP
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TORONTO, May 3, 2024 /CNW/ – The Court-appointed representative of a class of shareholders of Gatos Silver, Inc. ("Gatos Silver") has reached a settlement with the remaining Defendants in the class action, including Gatos Silver.

Gatos Silver has agreed to pay US$3,000,000 to settle the claims made against it in the class action. In connection with the settlement, the action will be dismissed against (i) the directors, officers, and employees of Gatos Silver who were also named as Defendants; (ii) Electrum Silver and its affiliates which were also named as Defendants; and (iii) certain underwriters against which the action had previously been discontinued.

Tetra Tech, Inc. ("Tetra Tech") previously paid C$1,000,000 to settle the claims made against it in the class action. The Court approved the Tetra Tech settlement on April 16, 2024.

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