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Barrick Gold Class Action - Koskie Minsky LLP, Sutts, Strosberg LLP and Groia & Company Professional Corporation File Statement of Claim Against Barrick Gold and Other Defendants
TORONTO , May 21, 2014 /CNW/ - On May 21, 2014 , Koskie Minsky LLP, Sutts, Strosberg LL...
About this update from Barrick Mining Corporation
[{"type":"text","content":"\n\n\nTORONTO, May 21, 2014 /CNW/ - On May 21, 2014, Koskie Minsky LLP, Sutts,\n Strosberg LLP and Groia & Company Professional Corporation, counsel in\n the Barrick Gold Corporation (TSX: ABX) securities class action, have\n filed a statement of claim in a $6 billion action against Barrick Gold\n Corporation and others. The claim alleges wrongdoing against Barrick\n Gold Corporation and its senior officers Aaron Regent, Jamie Sokalsky,\n Ammar Al-Joundi and Peter Kinver.\n\n\nThe detailed claim alleges there were misrepresentations in Barrick's\n public disclosure relating to Barrick's development of the Pascua-Lama\n mine located on the border between Chile and Argentina. In particular,\n Barrick publicly referred to this being a feasible and highly economic\n project due to the low cost to construct and produce gold and silver\n from the Pascua-Lama mine.  The claim alleges that Barrick knew or\n ought to have known that the significant costs to construct and produce\n gold and silver from this project would render it, at best, a\n speculative venture.\n\n\nIn addition, the defendants represented compliance with mandatory\n environmental conditions imposed on the Pascua-Lama mine and made\n statements that Barrick was safeguarding or protecting the environment\n and water surrounding the mine. The claim alleges that these\n representations were inaccurate, misleading or omitted key facts\n regarding Barrick's failure to comply with environmental conditions,\n regulation and permits, and regarding Barrick's failure to safeguard or\n protect the environment.\n\n\nThe action was commenced on behalf of Barrick Gold investors who\n acquired Barrick securities during the period from May 7, 2009 to\n November 1, 2013.\n\n\n\"The action raises serious questions about how Barrick Gold conducted\n its business and affairs and the manner in which it raised capital from\n public markets\" explains Kirk Baert of Koskie Minsky LLP.\n\n\nIf you acquired Barrick Gold Corporation securities during the period\n from May 7, 2009 to November 1, 2013, please contact Koskie Minsky LLP\n at 1-888-723-4305 or email at [email protected].\n\n\nKoskie Minsky LLP, based in Toronto, is one of Canada's foremost class\n action, labour, employment and litigation firms. Its class actions\n group has been a national leader in class actions ...