SOURCE: Brower Piven, A Professional Corporation

February 24, 2012 17:30 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $500,000 From Investment in Kinross Gold Corporation to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the April 16, 2012 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - Feb 24, 2012) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Kinross Gold Corporation ("Kinross" or the "Company") (NYSE: KGC) during the period between February 16, 2011 and January 17, 2012, inclusive (the "Class Period").

If you have suffered a net loss for all transactions in Kinross Gold Corporation common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than April 16, 2012 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period the low quality of the ores at Kinross Tasiast and the need to modify the mining processes to exploit the mine. According to the complaint, after, on January 16, 2012, the Company announced that the need to make capital expenditures in order to efficiently advance development of Tasiast and that Kinross would record a material non-cash accounting charge primarily relating to goodwill recorded for the Tasiast mine, the value of Kinross shares declined significantly.

If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6616
    Email Contact