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New Federal Securities Cases

Sibanye Gold Limited

A class action lawsuit has been filed in the United States District Court for the Eastern District of New York against Sibanye Gold Limited (NYSE: SBGL) ("Sibanye Gold" or the "Company") on behalf of investors who acquired Sibanye Gold securities during the period from April 7, 2017 through June 26, 2018 (the "Class Period"). The lawsuit seeks to recover damages under the federal securities laws.

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

According to the lawsuit, almost half of South Africa's 2018 mining fatalities occurred in Sibanye mines -- a poor reflection on Sibanye's culture, which places short-term profits over safety. The truth about Sibanye's hazardous practices came to light on June 13, 2018, when an article claimed that Sibanye's supervisors forced and intimidated miners to work in dangerous conditions. The article noted that several of Sibanye's gold miners were forced to work in an abandoned underground shaft where they choked to death from gas and poor ventilation, while others were killed in a seismic event the month prior. On June 26, 2018, Bloomberg reported that Citigroup Inc. expressed concerns that Sibanye has taken "unsustainable short-term measures" to boost earnings, including cutting capital spending, reducing management oversight, and mining high-grade pillars that were previously "too dangerous" to exploit. Since news of the deaths at Sibanye became widely known, Sibanye's stock fell from $2.82 to $2.51 per share. Then, on June 27, 2018, Citigroup cut its rating of the Company, due to humanitarian concerns, which caused the stock to fall from $2.51 to $2.25 per share, further damaging investors.

If you acquired Sibanye Gold securities during the Class Period, you may, no later than August 27, 2018, request that the court appoint you lead plaintiff of the Class. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the overall recovery for class members, including decisions concerning settlement.

If you are a current or former Sibanye Gold shareholder and wish to obtain additional information, please fill out the contact form at the link below.


Investigation Contact Form

Sibanye Gold Limited Investor Contact Form



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