Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Barrick Gold Corporation
Law Offices of Howard G. Smith announces that it is investigating
potential claims against Barrick Gold Corporation (“Barrick Gold” or the
“Company”) (NYSE:ABX) concerning possible violations of federal
securities laws. The investigation focuses on certain statements issued
by Barrick Gold between May 7, 2009 and May 23, 2013 regarding the
Company’s business, operations and financial prospects.
Barrick Gold engages in mine development activities and the production
and sale of gold and copper. The investigation is related to allegations
that the Company issued false and misleading statements and concealed
material information relating to the environmental impact, cost and
time-to-production projections for the Company’s Pascua-Lama Project --
a gold and silver mine under development on the border between Argentina
and Chile.
On April 10, 2013, news outlets reported that the Appeals Court of
Copiapó, Chile, had issued an order suspending work on the Pascua-Lama
Project. Then, on May 24, 2013 Chile’s Superintendency of the
Environment issued a fine equivalent to $16 million -- the maximum
penalty possible under Chilean law -- and a resolution suspending the
Pascua-Lama Project pending compliance with an environmental permit.
According to the Company, the fine was issued for “deviations from
certain requirements of [Pascua-Lama’s] Chilean environmental approval,
including a series of reporting requirements and instances of
noncompliance related to the project’s water management system.”
If you purchased Barrick Gold Corporation stock during the foregoing
period, if you have information or would like to learn more about these
claims, or if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Howard G. Smith, Esquire, of Law Offices
of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by
email to howardsmith@howardsmithlaw.com,
or visit our website at www.howardsmithlaw.com.
Copyright Business Wire 2013