ATLANTA, GA--(Marketwire -04/10/12)- Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of Kinross Gold Corporation ("Kinross" or the "Company") (NYSE: KGC - News) common stock who purchased shares between February 16, 2011 and January 17, 2012, inclusive (the "Class Period"). The lawsuit alleges that, among other things, Kinross Gold issued false and misleading statements during the Class Period by failing to timely disclose to investors: (a) that the drilling results at the Kinross Tasiast property had exhibited high amounts of low-grade ores and that because of this the Company would need to modify its mining processes to help minimize operating costs and maximize profitability; (b) that, as a result of the foregoing circumstances, applicable accounting standards required the Company to record an impairment in the value of goodwill that Kinross attributed to the Tasiast property; and (c) that the Company's financial statements were not fairly presented in conformity with International Financial Reporting Standards and were materially false and misleading.
If you purchased KGC common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than April 16, 2012. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a Kinross Gold investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at email@example.com, or firstname.lastname@example.org, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm.