Cases
Banro Corporation (NYSE: BAA)
Securities Class Action
Overview
Overview
- Date:
- 4/2/2018
- Company Name:
- Banro Corporation
- Stock Symbol:
- BAA
- Class Period:
- FROM 1/26/2016 TO 12/22/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, April 2, 2018 – Bragar Eagel & Squire, P.C. announces to investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Banro Corporation (NYSE: BAA) securities between January 26, 2016 and December 22, 2017 (the “Class Period”). Investors have until May 4, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Banro is a Canadian mining company operating exclusively in the DRC, with a focus on the exploration, development and production of gold.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and omissions regarding the Company’s business condition and operational environment. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s operating segments in the Eastern Congo were subject to a critical threat by the local populations claiming specific grievances against the Company (ii) the threat had in fact materialized and was disrupting its operations (iii) consequently, the Company’s operating environment was unstable; (iv) the Company intentionally mislead investors regarding its relationship with the local communities and the stability of its business operations and; (v) as a result, Banro’s public statements about Banro’s business and operations were false and misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Banro securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
Banro is a Canadian mining company operating exclusively in the DRC, with a focus on the exploration, development and production of gold.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and omissions regarding the Company’s business condition and operational environment. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s operating segments in the Eastern Congo were subject to a critical threat by the local populations claiming specific grievances against the Company (ii) the threat had in fact materialized and was disrupting its operations (iii) consequently, the Company’s operating environment was unstable; (iv) the Company intentionally mislead investors regarding its relationship with the local communities and the stability of its business operations and; (v) as a result, Banro’s public statements about Banro’s business and operations were false and misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Banro securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.