TORONTO, May 21, 2014 /CNW/ - On May 21, 2014, Koskie Minsky LLP, Sutts,
Strosberg LLP and Groia & Company Professional Corporation, counsel in
the Barrick Gold Corporation (TSX: ABX) securities class action, have
filed a statement of claim in a $6 billion action against Barrick Gold
Corporation and others. The claim alleges wrongdoing against Barrick
Gold Corporation and its senior officers Aaron Regent, Jamie Sokalsky,
Ammar Al-Joundi and Peter Kinver.
The detailed claim alleges there were misrepresentations in Barrick's
public disclosure relating to Barrick's development of the Pascua-Lama
mine located on the border between Chile and Argentina. In particular,
Barrick publicly referred to this being a feasible and highly economic
project due to the low cost to construct and produce gold and silver
from the Pascua-Lama mine. The claim alleges that Barrick knew or
ought to have known that the significant costs to construct and produce
gold and silver from this project would render it, at best, a
speculative venture.
In addition, the defendants represented compliance with mandatory
environmental conditions imposed on the Pascua-Lama mine and made
statements that Barrick was safeguarding or protecting the environment
and water surrounding the mine. The claim alleges that these
representations were inaccurate, misleading or omitted key facts
regarding Barrick's failure to comply with environmental conditions,
regulation and permits, and regarding Barrick's failure to safeguard or
protect the environment.
The action was commenced on behalf of Barrick Gold investors who
acquired Barrick securities during the period from May 7, 2009 to
November 1, 2013.
"The action raises serious questions about how Barrick Gold conducted
its business and affairs and the manner in which it raised capital from
public markets" explains Kirk Baert of Koskie Minsky LLP.
If you acquired Barrick Gold Corporation securities during the period
from May 7, 2009 to November 1, 2013, please contact Koskie Minsky LLP
at 1-888-723-4305 or email at barrickclassaction@kmlaw.ca.
Koskie Minsky LLP, based in Toronto, is one of Canada's foremost class
action, labour, employment and litigation firms. Its class actions
group has been a national leader in class actions and has prosecuted
many of the leading cases in the area.
Sutts, Strosberg LLP is one of the preeminent class action law firms in
Canada. It has been involved in many of the most important class action
decisions in the country and has recovered more than $1.5 billion for
its clients.
Groia & Company Professional Corporation is one of Canada's leading
securities litigation boutiques, having worked on almost every major
Canadian securities case: Asbestos, Bre-X, Cinar, Hollinger Inc.,
Philip Services, Proprietary Industries Inc., TD Waterhouse, Thomson
Kernaghan, UBS, YBM, and Yorkton Securities.
SOURCE Koskie Minsky LLP
