What Is the Sibanye Stillwater Limited (SBSW) Class Action Lawsuit About?
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Sibanye Stillwater Limited (“Sibanye Stillwater” or “the Company”) (NYSE: SBSW). Investors who purchased Sibanye Stillwater securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Sibanye Stillwater has violated federal securities laws.
Investigation Details:
On February 21, 2024, Sibanye issued a press release providing a “production update and trading statement” for 2023. Among other items, Sibanye disclosed that its 2023 profit fell as much as 91%, citing a sharp decline in platinum group metal (“PGM”) prices. Sibanye also said that it recognized impairments totaling 47.45 billion rand (approximately $2.5 billion), citing again the impact of weakening metal prices as well as operational challenges at its U.S. PGM and South African gold operations, and also at the Sandouville nickel refinery in France. On this news, Sibanye’s American Depositary Receipt (“ADR”) price fell $0.32 per ADR, or 6.96%, to close at $4.38 per ADR on February 21, 2024.
What’s Next?
If you are aware of any facts relating to this investigation or purchased Sibanye Stillwater securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
How Did Sibanye Stillwater Limited (SBSW) Stock React to the Disclosures?
How Is BG&G Representing Investors in Securities Class Actions?
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace.”