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03.14.12 - Kinross responds to class action lawsuits

In February and March 2012, lawsuits seeking class action status were filed in U.S. Federal court in New York and in the province of Ontario, respectively, claiming that Kinross made "materially false and misleading statements" related to the Company's Tasiast mine in advance of a Company news release on January 16, 2012.

It is not uncommon for class action litigation of this nature to be brought against a company following a period of volatility in its share price, which in this case occurred following the Company's January 16, 2012 news release.

Kinross believes that the allegations that have been made are without merit, and plans to vigorously oppose and defend against these lawsuits and any further litigation that may result.

 

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