The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the District of Idaho on behalf of those who acquired Perpetua Resources Corp. (“Perpetua” or the “Company”) (NASDAQ:PPTA) securities during the period from April 17, 2024, through February 13, 2025 (“the Class Period”). Investors have until May 20, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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On February 13, 2025, Perpetua published an updated cash flow model for its Stibnite Gold Project, unveiling additional capital expenses of $952 million, a more than 75% increase from the original figures presented to investors and well beyond the suggested 10-20% increase contemplated by the Company. The Company attributed these increased costs on inflation, indirect costs, higher mining costs, and direct decisions the Company made with respect to the project, including the choice to change the design of the electrical poles from timber to steel and the decision to “buy-and-build instead of lease the oxygen plant.” On this news, the price of Perpetua shares declined by $2.68 per share, or approximately 22% per share, from $11.97 per share on February 13, 2025, to close at $9.29 on February 14, 2025.
The complaint alleges that defendants, throughout the Class Period, failed to disclose material information concerning Perpetua’s expected initial capital expenditure for its Stibnite Gold Project.
If you purchased or otherwise acquired Perpetua securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com or fill out the form below, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
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