Paladin Energy (ASX, TSX: PDN) says it will challenge a class action suit in Australia alleging the uranium producer’s output forecast misled investors.
The case filed with the Supreme Court of Victoria in Melbourne contends that Paladin made misleading representations and contravened its ASX continuous disclosure obligations between June 27 and Nov. 11, according to Paladin and Melbourne-based law firm Slater and Gordon.
“Paladin intends to strongly defend this claim,” the miner said in a statement.
The Perth, Australia-based company restarted its main producer, the Langer Heinrich mine in Namibia, in late 2023 after being on care and maintenance since 2018. The first official production guidance was announced on June 27 for the fiscal year 2025 (July 1, 2024, to June 30, 2025), projecting an output of 4 million to 4.5 million lb. of uranium oxide (U₃O₈). This guidance was later revised on…
