Proposed Class Action Law Suit Dismissed
April 4, 2016, Vancouver, British Columbia – Eastern Platinum Limited (the “Company”) is pleased to announce that the Ontario Superior Court of Justice issued a decision on March 31, 2016 dismissing the application for leave to commence a proposed securities class action brought by the law firm Siskinds LLP. The application was originally filed in June 2011 against Eastern Platinum, a current director, and two former directors. The Superior Court concluded that there was no reasonable possibility that the applicant would succeed at trial and accordingly the proposed class action has been dismissed.
“We have always maintained the view that the allegations raised against us in the proposed class action suit were completely without merit and are very pleased that the Ontario Superior Court supported this in dismissing the application at this first step of the process,” said David Cohen, CEO and Chairman of the Company.
For further information, please contact:
PSG Capital (Pty) Limited
Tel: +27 21 887 9602
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.