This is a proposed securities class action against Northern Dynasty Minerals Ltd., certain of its current and former directors and officers, and the underwriter for its public offerings conducted during the Class Period. This class action advances primary and secondary market claims pursuant to the British Columbia Securities Act, a claim for oppression pursuant to section 227 of the British Columbia Business Corporations Act, and negligence claims at common law, pertaining to the Defendants’ conduct and representations with regards to the development and permitting of Northern Dynasty’s copper, gold and molybdenum mineral project in southwest Alaska (the “Pebble Project”).
Specifically, this lawsuit alleges that the Defendants: (1) made misrepresentations in Northern Dynasty’s primary market offering documents and continuous disclosure documents pertaining to their plan for and the permitting of the Pebble Project; (2) were negligent in their preparation of the Prospectuses for Northern Dynasty’s Class Period primary market offerings; and (3) engaged in oppressive conduct in violation of their obligations at law and the shareholders’ reasonable expectations.
Class Membership Criteria
This class action is brought on behalf of:
- All persons and entities (except certain Excluded Persons), wherever they may reside or may be domiciled, who purchased or otherwise acquired common shares of Northern Dynasty Minerals Ltd. during the period of time from December 21, 2017 to November 25, 2020, and who held some or all of those common shares as of August 22, September 21, or November 25, 2020.