Scott+Scott Attorneys at Law LLP Alerts Investors to the Filing of Securities Class Action Against Sibanye Gold Limited (SBGL)

Attorneys at Law LLP (“Scott+Scott”), a national securities and
consumer rights litigation firm, is notifying investors that a class
action lawsuit has been filed against Sibanye Gold Limited (NYSE: SBGL)
(“Sibanye” or the “Company”) and other defendants, related to alleged
violations of federal securities laws. If you purchased Sibanye stock
or securities between April 7, 2017 and June 26, 2018, you are
encouraged to contact a Scott+Scott attorney at (844) 818-6982 for
additional information.

Sibanye is a precious metals mining company that operates in South
Africa, Zimbabwe, and the United States.

The lawsuit alleges that defendants made false and/or misleading
statements and/or failed to disclose that: (i) Sibanye’s safety
protocols were inadequate to prevent a high rate of worker death; (ii)
Sibanye’s mining supervisors routinely forced Company employees to work
in unsafe and unlawful conditions; (iii) the foregoing issues would
foreseeably subject Sibanye to heightened regulatory oversight; and (iv)
as a result, Sibanye’s public statements were materially false and
misleading at all relevant times.

On June 13, 2018, an article came out in the The Mercury entitled,
“Mine puts profits before lives – claim,” stating that Sibanye’s mining
supervisors forced and intimidated miners to work in dangerous

On this news, Sibanye’s share price fell $0.07, or 2.6%, to close at
$2.56 on June 13, 2018.

On June 26, 2018, Bloomberg reported that “another worker was
killed at [Sibanye’s] Driefontein operation in South Africa, bringing
the total deaths at the company’s mines this year to 21.” The article
also stated that Sibanye was “already the subject of an investigation by
the chief inspector of mines.”

On this news, Sibanye’s share price fell $0.31, or 10.99%, to close at
$2.51 on June 26, 2018.

Then, on June 27, 2018, Bloomberg reported that Citigroup Inc.
cut its recommendation on Sibanye’s stock to neutral from buy, citing
the Company’s “track record” from “an environmental, social and
governance perspective, as well as the underlying investment risk that
it holds[.]”

On this news, Sibanye’s share price fell another $0.26, or 10.36%, to
close at $2.25 on June 27, 2018.

What You Can Do

If you purchased Sibanye shares or securities between April 7, 2017
and June 26, 2018, inclusive, or if you have questions about this
notice or your legal rights, please contact attorney Joe Pettigrew at
(844) 818-6982, or at
Investors have until August 27, 2018, to move for lead plaintiff.

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide with offices in New York, London, Connecticut,
California, and Ohio.

Attorney Advertising

View source version on

Leave a Comment