Glancy Prongay & Murray LLP Files Securities Class Action Lawsuit Against Barrick Gold Corporation
Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States
District Court for the Southern District of New York on behalf of a class (the “Class”) consisting of persons and entities that
acquired Barrick Gold Corporation (“Barrick” or the “Company”) (NYSE: ABX) securities between February 16, 2017 and April 24, 2017, inclusive (the “Class Period”).
If you are a member of the Class described above, you may move the Court no later than sixty days from the date of this
notice, to serve as lead plaintiff. Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150, or at shareholders@glancylaw.com to discuss this matter.
On April 24, 2017, the Company revised its full year guidance, stating that “[f]ull-year gold production is now expected to be
5.3-5.6 million ounces, down from our previous range of 5.6-5.9 million ounces.” Barrick also revised Veladero-specific guidance,
projecting full-year production at Veladero of 630,000-730,000 ounces, compared to the Company’s previously-issued guidance of
770,000-830,000 ounces. The slowdown in Veladero production stems in part from a work stoppage at the mine caused by alleged
environmental pollution. On this news, the Company’s share price fell $2.15, or 11.3%, to close at $16.89 per share on April 25,
2017, thereby injuring investors.
The complaint filed in this action alleges that throughout the Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.
Specifically, Defendants failed to disclose: (1) that the pipes and safety systems at the Veladero mine were not robust enough to
prevent gold-bearing solution spills; (2) that, as a result, Argentinian authorities would restrict the addition of cyanide to the
Veladero mine’s heap leach facility and require remedial work; (3) that these developments would impact (and were impacting) the
production capacity of the Veladero mine; (4) that as such, the Company’s Veladero mine production guidance and total gold
production guidance were overstated; and (5) that, as a result of the foregoing, Defendants’ statements about Barrick’s business,
operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased shares of Barrick during the Class Period you may move the Court no later than sixty days from the date
of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action
at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning this announcement or your rights or interests
with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
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