Orsu Metals Corporation has agreed to settle a C$2.2m class action claim relating to the restatement of its interim results in 2007, when the company was known as European Minerals Corporation.
Chairman Sergey Kurzin said Orsu continued to believe the claim was without merit but based on legal advice it was in the long-term interests of shareholders to settle at the lowest possible negotiated cost.
The amount agreed was significantly less than the original amounts claimed.
Story provided by Business Financial Newswire
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