NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Golden Star Resources Ltd. (“Golden Star” or the “Company”) (NYSEAMERICAN: GSS).
The investigation concerns whether Golden Star and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 31, 2019, Golden Star announced disappointing second-quarter 2019 financial results, wherein the Company materially cut its production guidance and increased its cash operating cost estimates. Golden Star disclosed that multiple issues had negatively impacted its mines, including the use of insufficient geological and geotechnical data and poor drilling strategies and techniques.
On this news, Golden Star’s stock price fell $0.75 per share, or 17%, to close at $3.55 per share on July 31, 2019.