Perpetua Resources Corp. (PPTA) is facing a federal class action lawsuit after disclosing a staggering $952 million increase in projected capital costs for its Stibnite Gold Project—an unexpected 75% surge that triggered a 22% drop in the company’s stock price in a single day.
The lawsuit, filed on behalf of investors who held Perpetua shares between April 17, 2024 and February 13, 2025, alleges that the company misled shareholders about the project’s financial outlook by downplaying inflationary risks and capital expense changes.
According to the complaint, Perpetua executives minimized the potential for rising costs throughout the project’s development timeline, suggesting only a 10–20% increase in expenditures.
Instead, the company’s February update revealed cost jumps driven by inflation, indirect expenses, and several design decisions—including a switch from timber to steel utility poles and a move to buy and build an oxygen plant instead of leasing one.
Shares of Perpetua plunged from $11.97 to $9.29 on the day of the announcement but has recovered since.
Investors seeking to participate in the class action can visit the law firm’s submission portal here or contact Joseph E. Levi, Esq. at [email protected].
Levi & Korsinsky LLP, the firm behind the suit, is a well-known player in securities litigation and has recovered hundreds of millions on behalf of shareholders over the past two decades.
There is no cost to join the case, and shareholders who held stock during the class period are eligible to seek recovery — even if they have not yet sold their shares.