A lawsuit is being brought against Detour Gold and its former CEO, Gerald Panneton.
On May 13, a lawsuit was filed claiming, among other things, special and general damages in the amount of $80 million, in relation to the company's public disclosure concerning its Detour Lake Mine operations.
In a news release, the company said it is “investigating the allegations, and intends to vigorously defend the claims.”
In March, law firm Morganti Legal P.C. announced it was representing investors and looking into negligent statements made by Detour Gold about its investment quality between April 9, 2013 and Nov. 7, 2013.
Detour Gold operates its flagship Detour Lake gold mine, north of Cochrane. The mine has proven and probable reserves of 15.5 million ounces of gold.