San Diego, CA -- (ReleaseWire) -- 01/31/2012 -- The Shareholders Foundation announces that an investigation on behalf of investors in shares of Kinross Gold Corporation (USA) (NYSE:KGC) was initiated over potential securities laws violations by certain officers and directors at Kinross Gold Corp. in connection with potential false and misleading statements.
Investors who purchased shares of Kinross Gold Corporation (USA) (NYSE:KGC) and currently hold those NYSE:KGC shares, may have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Kinross Gold Corporation (USA) (NYSE:KGC) concerning whether a series of statements made between February 16, 2011 and January 17, 2012, inclusive, regarding Kinross’s business, its prospects and its operations were materially false and misleading at the time they were made. Specifically, the investigation seeks to determine, among other things, whether Kinross Gold Corporation knowingly overstated the quality of gold ore contained in its Tasiast property during the relevant period.
For the third quarter in 2011 Kinross Gold Corporation (USA) reported an increase in its third quarter Revenue from $734.50million in 2010 to $1.06billion in 2011. However, its third quarter Net Income fell from $540.90million in 2010 to $212.60million in 2011.
Then on January 16, 2012 Kinross Gold Corp. announced its preliminary operating results for the full-year 2011 and outlook for 2012.
NYSE:KGC shares fell to under $10 on January 19, 2012.
Those who purchased shares of Kinross Gold Corporation (USA) (Public, NYSE:KGC) and currently hold those NYSE:KGC shares, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego