Faruqi & Faruqi Defeats Motion To Dismiss In Investor Class Action Against Tahoe Resources


Dillon Hagius Dillon Hagius
Associate

Tel: (212) 983-9330
Fax: (212) 983-9331
E-mail: dhagius@faruqilaw.com

On June 19, 2019, Judge Richard F. Boulware II of the District of Nevada denied nearly all of Defendant Tahoe Resources, Inc.’s motion to dismiss the Lead Plaintiff’s consolidated amended class action complaint (the “Complaint”).  The Court held that the Complaint sufficiently pled that Tahoe and select Individual Defendants that served as directors and officers of Tahoe (except for Elizabeth McGregor) made false and/or misleading statements concerning (1) the issuance of the Escobal License; (2) the presence of indigenous peoples in the area of the Escobal Project; (3) the community’s response to the Escobal Project; (4) the Company’s outreach efforts in the communities in the Escobal Project Area; and (5) Tahoe’s supposed compliance with Corporate Social Responsibility regimes.  Pursuant to the Court’s Order, the parties will now submit a joint discovery plan.

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