CLASS ACTION UPDATE for ELMS, FENC and GATO: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

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NEW YORK, NY / ACCESSWIRE / March 4, 2022 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

ELMS Shareholders Click Here: https://www.zlk.com/pslra-1/electric-last-mile-solutions-inc-f-k-a-forum-merger-iii-corp-loss-submission-form?prid=24329&wire=1
FENC Shareholders Click Here: https://www.zlk.com/pslra-1/fennec-pharmaceuticals-inc-loss-submission-form?prid=24329&wire=1
GATO Shareholders Click Here: https://www.zlk.com/pslra-1/gatos-silver-inc-loss-submission-form?prid=24329&wire=1

* ADDITIONAL INFORMATION BELOW *

Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. ELMS

ELMS Lawsuit on behalf of: investors who purchased March 31, 2021 - February 1, 2022
Lead Plaintiff Deadline : April 4, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/electric-last-mile-solutions-inc-f-k-a-forum-merger-iii-corp-loss-submission-form?prid=24329&wire=1

According to the filed complaint, during the class period, Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) ELMS's previously issued financial statements were false and unreliable; (2) ELMS's earlier reported financial statements would need restatement; (3) certain ELMS executives and/or directors purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation; (4) on November 25, 2021 (Thanksgiving), the Company's Board formed an independent Special Committee to conduct an inquiry into certain sales of equity securities made by and to individuals associated with the Company; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Fennec Pharmaceuticals Inc. FENC

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FENC Lawsuit on behalf of: investors who purchased May 28, 2021 - November 26, 2021
Lead Plaintiff Deadline : April 11, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/fennec-pharmaceuticals-inc-loss-submission-form?prid=24329&wire=1

According to the filed complaint, during the class period, Fennec Pharmaceuticals Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Fennec had not successfully remediated, and overstated its efforts to remediate, issues with the manufacturing facility of its drug product manufacturer for PEDMARK, a new compound developed to reduce the incidence of hearing loss in children undergoing chemotherapy; (ii) as a result, the Food and Drug Administration likely to approve the Resubmitted Pedmark New Drug Application ("NDA"); (iii) accordingly, the regulatory and commercial prospects of the Resubmitted Pedmark NDA were overstated; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

Gatos Silver, Inc. GATO

This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Gatos: (a) common stock pursuant and/or traceable to documents issued in connection with the Company's initial public offering conducted on or about October 28, 2020; and/or (b) securities between October 28, 2020 and January 25, 2022, inclusive.
Lead Plaintiff Deadline : April 25, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/gatos-silver-inc-loss-submission-form?prid=24329&wire=1

According to the filed complaint, (1) the technical report for Gatos's primary mine, the Cerro Los Gatos deposit, contained certain errors; (2) among other things, the mineral reserves had been overestimated by as much as 50%; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE : Levi & Korsinsky, LLP



View source version on accesswire.com:

https://www.accesswire.com/691620/CLASS-ACTION-UPDATE-for-ELMS-FENC-and-GATO-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders

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