Business
Gammon Comments on Class Action Certification - Notes that the Breadth of the Potential Class has been Significantly Reduced by the Court
Gammon Comments on Class Action Certification - Notes that the Breadth of the Potential Class has...
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\n\n\n\nHALIFAX, Mar. 17, 2010 (Canada NewsWire Group) -- /CNW/ -- Gammon Gold Inc. (\"Gammon\" or the \"Company\") (TSX:GAM and NYSE:GRS): notes that the Ontario Superior Court of Justice released its decision on March 16, 2010 in respect of the proposed class action commenced by Ed J. McKenna in 2008.The Company notes that while the class action was certified in respect of investors who purchased securities through underwriters in Canada under its April 2007 prospectus, the Court, contrary to other recent Ontario judgments, did not certify the claim in respect of secondary market purchases. Additionally, the Court did not certify the claim in respect of persons who purchased securities outside Canada.Rene Marion, the President and Chief Executive Officer of Gammon commented, \"We believe the Court's decision not to certify the claim in respect of secondary market purchases and in respect of those purchasers who acquired securities outside Canada, significantly reduces the scale of any potential claim.\"Certification is a procedural step in the litigation and no determination has been made of the merits of the claim. Gammon will continue to vigorously defend the matter, although no assurances can be given with respect to the outcome of any proceedings.About Gammon GoldGammon Gold Inc. is a Nova Scotia based mid-tier gold and silver producer with properties in Mexico. The Company's flagship Ocampo Project in Chihuahua State achieved commercial production in January 2007. Gammon Gold also operates its El Cubo operation in Guanajuato State and has the promising Guadalupe y Calvo development property in Chihuahua State.Cautionary StatementCautionary Note to US Investors - The United States Securities and Exchange Commission permits US mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. This press release uses certain terms, such as \"measured,\" \"indicated,\" and \"inferred\" \"resources,\" that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC. US Investors are urged to consider closely the disclosure in Gammon Gold's Annual Report on Form 40-F/A, which may be secured from Gammon Gold, or from the SEC's website at http://www.sec.gov/edgar.shtml.No stock exchange, securities c...