Market Overview

Robbins Geller Rudman & Dowd LLP Announces a Securities Case Has Been Filed on Behalf of Purchasers of Sibanye Gold Ltd. Securities


Geller Rudman & Dowd LLP
announces that a securities class
action case was filed on behalf of purchasers of Sibanye Gold Limited
(NYSE:SBGL) securities between April 7, 2017 and June 26, 2018 (the
"Class Period"). This action was filed in the U.S. District Court for
the Eastern District of New York and is captioned Brandel v. Sibanye
Gold Ltd.
, No. 1:18-cv-03721 and is assigned to Judge Matsumoto.

The Private Securities Litigation Reform Act of 1995 permits any
investor who purchased Sibanye securities during the Class Period to
seek appointment as lead plaintiff. A lead plaintiff acts on behalf of
all other class members in directing the litigation. The lead plaintiff
can select a law firm of its choice. An investor's ability to share in
any potential future recovery is not dependent upon serving as lead
plaintiff. If you wish to serve as lead plaintiff or have questions
concerning your rights, please contact Brian Cochran of Robbins Geller
at 800/449-4900 or 619/231-1058, or via e-mail at
Lead plaintiff motions must be filed with the court no later than 60
days from June 27, 2018.

The complaint charges Sibanye and certain of its officers and directors
with violations of the Securities Exchange Act of 1934 by issuing
materially false and misleading statements and/or failing to disclose
adverse facts about the Company's business, operations, and prospects,
including that Sibanye's culture placed short-term profits over safety
and, as a consequence, almost half of South Africa's 2018 mining
fatalities occurred in Sibanye's mines. As a result of this information
being concealed from the market, Sibanye securities traded at
artificially inflated prices during the Class Period, with its stock
price reaching a high of more than $10 per share. On June 13, 2018, The
published an article, entitled "Mine puts profits before
lives," which stated that Sibanye supervisors forced miners to work in
dangerous conditions. According to the article, "[t]he tragic deaths of
four gold miners at a Johannesburg mine have been blamed on a shift
manager, accused of putting profits before lives. Angry workers claimed
that the manager forced them to work in an abandoned underground shaft
where they choked to death from a combination of gas and poor
ventilation." On this news, the price of Sibanye shares fell nearly 3%
to close at $2.56 per share on June 13, 2018.

On June 26, 2018, Bloomberg reported that "another worker was
killed at [Sibanye's] Driefontein operation in South Africa, bringing
the total deaths at the company's mines this year to 21," or "nearly
half of the 46 people reported killed at South African mines in 2018,"
and that Sibanye "is already the subject of an investigation by the
chief inspector of mines." This caused the price of the Company's shares
to fall another 11%. Then on June 27, 2018, Bloomberg reported
that Citigroup had cut their recommendation on Sibanye stock to neutral
from buy, citing the Company's track record from "an environmental,
social and governance perspective, as well as the underlying investment
risk that it holds." According to Bloomberg, Citigroup was
"concerned that Sibanye has taken ‘unsustainable short-term measures' to
boost earnings, including cutting capital spending and reducing
management oversight, as well as mining high-grade pillars that were
previously considered ‘too dangerous' to exploit." On this news, Sibanye
shares fell more than 8% on June 27, 2018.

Robbins Geller is one of the world's leading law firms representing
investors in securities litigation. With 200 lawyers in 10 offices,
Robbins Geller has obtained many of the largest securities class action
recoveries in history. For five consecutive years, ISS Securities Class
Action Services has ranked the Firm in its annual SCAS Top 50 Report as
one of the top law firms in both the amount recovered for shareholders
and the total number of class action settlements. Robbins Geller
attorneys have helped shape the securities laws and recovered tens of
billions of dollars on behalf of aggrieved victims. Beyond securing
financial recoveries for defrauded investors, Robbins Geller also
specializes in implementing corporate governance reforms, helping to
improve the financial markets for investors worldwide. Please visit
for more information.

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