Gatos Silver, Inc.
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Gatos Silver, Inc. ("Gatos" or the "Company") on behalf of stockholders. A class action complaint has been filed against Gatos. The complaint alleges that defendants made materially false and misleading statements, and failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (i) the Company's technical report was not prepared in accordance with the SEC Mining Modernization Rules and NI 43-101 and materially overstated the Cerro Los Gatos deposit's reserves and resources; (ii) the Company filed financial reports with the SEC that materially understated depreciation and depletion expenses and materially misstated the Company's net income/losses; (iii) defendants used the inflated resource and reserve figures to entice investors to purchase over $156 million in stock in the Company's October 2020 IPO; and (iv) Philip Pyle and Company Vice President Luis Felipe Huerta reaped large profits by selling shares at inflated prices.