Gatos, Investors Proceed With $21 Million Class Action Deal

Gatos Silver Inc. and investors who sued the public company persuaded a federal judge to preliminarily approve a proposed $21 million class action settlement, bringing the litigation closer to an end.

The lead plaintiffs estimate 30,000 people who acquired Gatos stock between 2020 and 2022 could join the class. Members will receive pro rata shares of the settlement fund based on their losses in transactions of Gatos securities.

"[I]t is evident that the parties believe that the settlement agreement is fair and reasonable,” Judge Philip A. Brimmer, of the U.S. District Court for the District of Colorado, said in ...