Faruqi & Faruqi, LLP, Sole Lead Counsel, Scores Final Approval of $19.5 Million Settlement In Tahoe Resources, Inc. Securities Litigation

On April 3, 2024, the Court granted final approval to a $19.5 million settlement in In re Tahoe Resources, Inc. Securities Litigation, No. 17-cv-01868-RFB-NJK (D. Nev.). Faruqi & Faruqi, LLP (the “Faruqi Firm”) served as sole lead counsel in the action, which alleged that Tahoe Resources, Inc. (“Tahoe”) and certain of its officers and directors made materially false and/or misleading statements after Tahoe obtained its exploitation license for the Escobal mine in Guatemala.  This settlement was reached after over five years of hard-fought litigation, which included a thorough investigation by the Faruqi Firm, significant discovery involving the review of hundreds of thousands of pages of documents and numerous fact and expert depositions, substantial motion practice, and an arms-length mediation session. 
 
This settlement is part of a $33 million global settlement of this U.S. action and a separate lawsuit filed in Canada against Tahoe and many of the same defendants.  
 
The final order is available here.