NEW YORK, Jan. 14, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Endeavour Mining plc (“Endeavour” or the “Company”) (OTC: EDVMF). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Endeavour and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 4, 2024, Endeavour’s Board of Directors announced the termination of Endeavour’s President and Chief Executive Officer (“CEO”), Sebastien de Montessus, following the Board’s investigation “into an irregular payment instruction issued by him in relation to an asset disposal.” The Board stated that it had become aware of a $5.9 million payment instruction in connection with a review of acquisitions and disposals and that de Montessus had been terminated for serious misconduct with “immediate effect.”
On this news, Endeavour’s stock price fell $2.20 per share, or 10.14%, to close at $19.50 per share on January 4, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
SOURCE Pomerantz LLP