Eldorado Gold faces scrutiny after issuing misleading information about Skouries Project
- Eldorado Gold Corporation announced on February 5, 2025, that labor market tightness in Greece has led to delays in their Skouries Project.
- The company revealed revised expectations for first and commercial production, pushing timelines to 2026.
- In response to this news and potential investor losses, the Rosen Law Firm is exploring a class action lawsuit against Eldorado Gold.
On February 5, 2025, Eldorado Gold Corporation provided an update on its Skouries Project, which is located in Greece. The announcement highlighted ongoing challenges posed by a tight labor market, specifically in the construction sector, which had impacted the availability of key construction personnel. As a consequence, the company indicated that the ramp-up of the workforce was slower than anticipated, resulting in delays in certain areas of the project. Furthermore, Eldorado Gold revised its expectations for production timelines, stating that first production is now expected in the first quarter of 2026, with commercial production following in mid-2026. This update had a significant negative effect on the company's stock, which plunged 11.2% the day after the announcement, reflecting investor concerns regarding the potential for losses attributed to the delays and the nature of business information provided. In light of these developments, the Rosen Law Firm initiated an investigation into potential securities claims on behalf of the shareholders, focusing on allegations that the company may have disseminated materially misleading information to the public. They plan to prepare a class action lawsuit to seek recovery for investor losses resulting from these issues. Investors are encouraged to reach out to qualified legal counsel, and the Rosen Law Firm stresses the importance of selecting experienced representation when dealing with securities class actions, emphasizing its track record of success.