An investigation for investors in KATANGA MINING LTD (OTCMKTS:KATFF) shares over potential securities laws violations by Katanga Mining Limited was announced.
San Diego, CA -- (SBWIRE) -- 11/27/2017 -- An investigation was announced for investors of KATANGA MINING LTD (OTCMKTS:KATFF) shares over potential securities laws violations by Katanga Mining Limited.
Investors who purchased shares of KATANGA MINING LTD (OTCMKTS:KATFF), have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm focuses on whether certain statements by Katanga Mining Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On November 20, 2017, Katanga announced the resignation of three executives of Glencore plc, Katanga's parent company, from Katanga's board of directors after an internal review found "material weaknesses" in the Company's financial reporting controls. Katanga stated that questions about the "appropriateness" of certain of Katanga's accounting practices arose during the course of an investigation by the Ontario Securities Commission (the "OSC").
Katanga Mining Limited restated certain historical financial statements for the years 2015 and 2016, as well as the first quarter of 2017, and advised investors that "the Company's previously filed consolidated financial statements for the years ended December 31, 2016, 2015 and 2014 and related MD&A [management's discussion and analysis] and all interim consolidated financial statements and interim MD&A since December 31, 2014 should not be relied upon." In addition, Katanga advised investors that "OSC enforcement staff are also investigating the adequacy of Katanga's corporate governance practices and compliance with those practices and the related conduct of certain directors and officers of Katanga" and "Katanga's risk disclosure in connection with applicable requirements under certain international bribery, government payment and anti-corruption laws."
Those who purchased shares of Katanga Mining Limited (OTCMKTS:KATFF) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego