Lerach Coughlin Stoia Geller Rudman & Robbins LLP ("Lerach Coughlin") (http://www.lerachlaw.com/cases/drdgold/) today announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of DRDGOLD Limited ("DRDGOLD") (NASDAQ:DROOY), formerly known as Durban Roodepoort Deep, Limited, securities during the period between October 23, 2003 and February 24, 2005 (the "Class Period"). If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Samuel H. Rudman or David A. Rosenfeld of Lerach Coughlin at 800/449-4900 or 619/231-1058 or via e-mail at wsl@lerachlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.lerachlaw.com/cases/drdgold/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The complaint charges DRDGOLD and certain of its officers and directors with violations of the Securities Exchange Act of 1934. DRDGOLD is a gold exploration and mining company. The Company operates gold mines through its South African and Australasian operations. The complaint alleges that, throughout the Class Period, 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 and in fact, 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. Moreover, despite representations to the contrary, the Company continued to be negatively impacted by the increasing value of the South African Rand. As detailed in the complaint, 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%, on extraordinarily heavy volume. Plaintiff seeks to recover damages on behalf of all purchasers of DRDGOLD securities during the Class Period (the "Class"). The plaintiff is represented by Lerach Coughlin, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. Lerach Coughlin, a 150-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Houston, Philadelphia and Seattle, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. Lerach Coughlin lawyers have been responsible for more than $20 billion in aggregate recoveries. The Lerach Coughlin Web site (http://www.lerachlaw.com) has more information about the firm.
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