Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Kirkland Lake Gold Ltd. (KL) Investors

Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased Kirkland Lake Gold Ltd. ("Kirkland" or "the Company") (NYSE: KL) securities between January 8, 2018 and November 25, 2019, inclusive (the “Class Period”). Kirkland investors have until August 28, 2020 to file a lead plaintiff motion.

If you suffered a loss on your Kirkland investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/kirkland-lake-gold-ltd/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

On November 25, 2019, Kirkland announced that it would acquire Detour Gold Corporation (“Detour”) for $3.68 billion. The deal was dilutive to Kirkland’s reserve grade: while Kirkland’s reserve grade was 25 g/t before the deal, Detour’s reserve grade was 0.96 g/t. Moreover, the deal would lead to a 30% increase in Kirkland’s all-in sustaining costs.

On this news, the Company's share price fell as much as $8.18, or over 17%, to close at $39.44 per share on November 25, 2019.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Kirkland lacked adequate internal controls over financial reporting, especially as it relates to its projections of risks, reserve grade, and all-in sustaining costs; (2) that as a result of the known, but undisclosed, impending acquisition of Detour Gold Corporation, the Company’s projections relating to its risks, reserve grade, and all-in sustaining costs were false and misleading; (3) that the Company’s financial statements and projections were not fairly presented in conformity with International Financial Reporting Standards; and (4) that based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company’s business, operations, and prospects and/or lacked a reasonable basis and omitted material facts.

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If you purchased Kirkland securities during the Class Period, you may move the Court no later than August 28, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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