CASES
Canada Lithium Corporation
Class Period: Oct 28, 2010 to Feb 28, 2011
Lead Plaintiff Deadline: Jun 7, 2011 + Deadline passed
Summary of Case:
A securities class action has been filed against Canada Lithium Corporation ("CLQ" or the "Company") on behalf of all persons who purchased securities of the Company from October 28, 2010, through February 28, 2011. This case has been filed in the Ontario Superior Court of Justice.
The claim alleges that Canada Lithium Corporation's ("CLQ" or the "Company") resource estimates disclosed on October 28, 2010, and related statements were false and/or materially misleading. According to the claims, CLQ issued and filed with SEDAR a press release which represented that the Company had increased the total measured and indicated mineral resources at its Quebec Lithium Project by approximately 48%. The Company represented that the Quebec Lithium Project was ranked among the top two or three known hard-rock deposits. The claim also alleges that the prospectus dated January 24, 2011, contained one or more misrepresentations. The prospectus contained one or more misrepresentation within the meaning of the securities legislation applicable in each of the jurisdictions in Canada inasmuch as it contained untrue information about the mineral resources at CLQ's Quebec Lithium Project.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.