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Eastern Platinum: Proposed class-action lawsuit dismissed


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Eastern Platinum: Proposed class-action lawsuit dismissed

said April 4 thatthe Ontario Superior Court of Justice issued a decision March 31 dismissing a proposedsecurities class action against the company.

The applicationwas filed by law firm Siskinds LLP in June 2011 against Eastern Platinum, a currentdirector and two former directors of the company.

The court concludedthat there was no reasonable possibility that the application would succeed at trial,according to the release.

"We havealways maintained the view that the allegations raised against us in the proposedclass action suit were completely without merit, and [we] are very pleased thatthe Ontario Superior Court supported this in dismissing the application at thisfirst step of the process," said David Cohen, CEO and chairman of the company.