Durban Roodepoort Deep, Ltd. NASD: DROOY

Company: Durban Roodepoort Deep, Ltd.
Ticker Symbol: NASD: DROOY
Class Period: October 23, 2003 to February 24, 2005
Date Filed: Jun-13-05
Lead Plaintiff Deadline: Aug-12-05
Court: Southern District, NY
A lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased the publicly traded securities of DRDGOLD Limited, formerly known as Durban Roodepoort Deep, Limited, (Nasdaq: DROOY) ("DRDGOLD" or the "Company") between October 23, 2003 and February 24, 2005, inclusive (the "Class Period").

The Complaint alleges that DRDGOLD and certain of its officers and directors violated federal securities laws. Specifically, defendants made numerous statements regarding: (i) the successful restructuring of the Company's North West Operations in South America; (ii) the Company's ability to reduce the negative impact of the increasing value of the South African Rand versus the U.S. Dollar; and (iii) the increasing strength of the Company's balance sheet. In truth, the Company's problems with its North West Operations were never fully resolved and resulted in the Company being forced to record an impairment charge for the full value of its mining assets there. Despite representations to the contrary, DRDGOLD continued to be negatively impacted by the increasing value of the South African Rand. Further, these problems resulted in the Company being forced to announce that it might not be able to operate as a going concern. When this information was belatedly disclosed to the public, shares of DRDGOLD fell more than 25%.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

If you feel you qualify for damages or remedies that might be awarded in this class action please click here to fill in our form to submit your complaint.

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