July 10 Deadline: Law Offices of Howard G. Smith Reminds Barrick Gold Corporation Investors of Pending Lawsuit And Upcoming
Lead Plaintiff Deadline
Law Offices of Howard G. Smith reminds investors of the upcoming July 10, 2017 deadline to file a lead
plaintiff motion in the class action lawsuit filed on behalf of a class of investors who purchased or otherwise acquired Barrick
Gold Corporation. (“Barrick” or the “Company”) (NYSE: ABX) securities between February 16, 2017 and April 24, 2017, inclusive (the “Class Period”). Barrick
investors have until July 10, 2017 to file a lead plaintiff motion.
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 class 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 Barrick securities, you may move the Court no later than July 10, 2017 to request appointment
as lead plaintiff in the putative class action lawsuit. 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 action lawsuit. 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 this lawsuit, 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.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20170707005146/en/