Class Action Law Suit Underway In Taseko Stock Sales

Tuesday, January 18, 2011 03:59 AM

Williams Lake, B.C. - A class action lawsuit has been launched on behalf of investors who suffered because of a plunge in the value of Taseko Mine stocks just before the Federal Government announced it was not going to approve the Prosperity Mine project near Williams Lake.

The Merchant Law Group of Vancouver is launching the suit.

Millions of stocks were sold off in the weeks before the official announcement came from Ottawa. It is not known how much money was lost, or how many investors are involved.

Both the RCMP and the B.C. Securities Commission have launched investigations to see if there was any insider trading.

The Federal Government said no to the current proposal for the Prosperity Mine saying it would have a significant adverse effect on the Tsilhqot’in Nation regarding their current use of lands and resources for traditional purposes.

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Posted on Tuesday, January 18, 2011 03:59 AM in News by 250 News

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Comments

Posted by: Jimmi on January 18 2011 9:00 AM

who are they suing? The Federal Government??

Posted by: seedling on January 18 2011 10:59 AM

They don't know who to sue!!!

Posted by: interceptor on January 18 2011 11:24 AM

As our society turns more litigious perhaps they will eventually sue themselves? Oh wait, thats being done already with husbands and wives in ICBC cases...

Posted by: boomer on January 18 2011 2:46 PM

I would sue as well if trading was being done based on information that was supposed to be confidential.