Evolution Mining Ltd (EVN)
Shareholder Class Action
Echo Law has filed a class action in the Federal Court of Australia on behalf of shareholders against Evolution Mining Ltd (ASX:EVN) (Evolution) in relation to announcements made by the Company regarding the Red Lake mine in Ontario, Canada, which was acquired by Evolution in April 2020.
Evolution’s share price declined on three occasions in response to the Company’s announcements on 27 January 2022, 21 April 2022 and 27 June 2022.
Register for the Evolution Class Action by clicking the button above. It does not cost any money to register, and you will never be ‘out of pocket’ as a result of participating in this class action.
Claim Period
The class action is being brought on behalf of persons that acquired:
1. EVN securities on the ASX; or
2. long exposure to EVN shares by entering into equity swaps confirmations,
between 16 July 2021 and 24 June 2022 (inclusive).
Allegations
The proceeding alleges that, between 16 July 2021 and 24 June 2022, Evolution engaged in misleading or deceptive conduct, made misleading statements, and breached its obligations of continuous disclosure to the market in relation to the representations made about Red Lake’s performance and its consequential impact on group-level gold production and earnings guidance. The class action seeks to recover the loss and damage suffered by shareholders as a result of Evolution’s alleged conduct.
Participation
If you purchased Evolution shares between 16 July 2021 and 24 June 2022 (inclusive), you can register for the Evolution Shareholder Class Action by clicking the “Register Now” button below. In doing so, you will receive regular updates from Echo Law as the class action progresses, and will receive notifications about any steps that may be required of you in future.
The claim has been issued on an open class basis. This means that, subject to some limited exceptions, if you purchased shares during the period 16 July 2021 and 24 June 2022 (inclusive), you are automatically a group member in the class action.
Courts usually require group members to take an active step at some point during the proceeding in order to register their claims for any compensation that may become payable. By registering your interest in the proceeding now, we will facilitate this process for you, or we will ensure you are notified if and when any steps may be required of you.
Costs
There is no out-of-pocket cost to participate in the claim.
This proceeding is supported by Woodsford, a leading global collective redress and litigation finance business. This means that group members will not be required to pay any money out of their own pockets for upfront legal fees or related expenses and will not be responsible for paying any costs if the class action is unsuccessful.
If the class action is successful and financial compensation is recovered from Evolution, legal costs payable and a funding commission for the litigation funder will be deducted from group members’ recoveries. These costs will never exceed the amount of compensation to which group members may otherwise become entitled, and will be assessed by the Court to ensure that any legal costs and disbursements are fair and reasonable.
In no circumstances will group members ever be out of pocket by participating in the class action – whether the case is successful or unsuccessful.
Enquiries
If you acquired Evolution shares between 16 July 2021 and 24 June 2022 (inclusive) and wish to register your interest in the class action, you can do so by clicking the “Register Now” button above.
You can also contact Echo Law to discuss the class action by sending an email to enquiries@echolaw.com.au or calling Echo Law on +61 3 7046 3565.