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by Mike Caswell

As Silvercorp Metals Inc. nears the conclusion of a class action lawsuit in New York, the company has received a reminder that it still faces another in Canada. Lawyers pursuing an $80-million case against Silvercorp in the Ontario Superior Court of Justice have asked that the New York courts allow them continued access to the discovery materials from the U.S. case, all 90,000 pages of it. They say much of it is relevant to the action they are pursuing.

The Ontario class action mirrors that of the case against the company in the U.S. It complains that Silvercorp misrepresented the production levels at its Ying mine in China from 2009 to 2011. After short-sellers published lower production figures than those the company reported, investors suffered substantial losses, the suit claims.

SILVERCORP

Rui Feng

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