Proposed Class Action Law Suit Dismissed
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/04/16 -- Eastern Platinum Limited (the "Company") (TSX: ELR)(JSE: EPS) is pleased to announce that the Ontario Superior Court of Justice issued a decision on March 31, 2016, dismissing the application for leave to commence a proposed securities class action brought by the law firm Siskinds LLP. The application was originally filed in June 2011 against Eastern Platinum, a current director, and two former directors. The Superior Court concluded that there was no reasonable possibility that the applicant would succeed at trial and accordingly the proposed class action has been dismissed.
"We have always maintained the view that the allegations raised against us in the proposed class action suit were completely without merit and are very pleased that the Ontario Superior Court supported this in dismissing the application at this first step of the process," said David Cohen, CEO and Chairman of the Company.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Contacts:
EASTERN PLATINUM LIMITED
David Cohen
+1-604-689-9663
JSE SPONSOR
David Tosi
PSG Capital (Pty) Limited
+27 21 887 9602
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Datum: 04.04.2016 - 12:18 Uhr
Sprache: Deutsch
News-ID 1425850
Anzahl Zeichen: 2379
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VANCOUVER, BRITISH COLUMBIA
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Mining & Metals
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