0116064 B.C. Ltd. v. Alio Gold Inc., et al., Supreme Court of British Columbia, Vancouver Registry No. S-194929
A proposed class action was commenced against Alio Gold Inc. (“Alio”) in the British Columbia Supreme Court on April 25, 2019. The proposed action is with respect to certain misrepresentations alleged to have been made by Alio in connection with its acquisition of all outstanding shares in the common stock of mining company Rye Patch Gold Corp. (“Rye Patch”) in the spring of 2018. A filed copy of the notice of civil claim can be found here.
The action alleges that the conduct of Alio constitutes fraudulent and negligent misrepresentation for which Alio is liable under the Securities Act, RSBC 1996, c 418 and at common law, particularly with respect to Alio’s anticipated gold production for 2018.
This action is brought on behalf of members of a proposed class consisting of all individuals and entities whose shares in Rye Patch were acquired by Alio in the spring of 2018 have suffered damage and loss, including due to the artificial inflation of the share price of Alio at the time of the acquisition. There is currently no date set for the certification hearing.
If you are a former shareholder of Rye Patch and interested in learning more about this case, please contact Brendan Brock at the contact information set out below.
The purpose of this website is to provide general information and updates on the proposed Alio Gold Inc. class action. This website is not intended to provide legal advice. Readers should not act on the information contained on this website without seeking specific legal advice on their particular circumstances.
Hakemi & Ridgedale LLP
Suite 1500, 888 Dunsmuir Street
Vancouver, British Columbia
V6C 3K4 Canada