SASKATOON, SK, May 27, 2014 /CNW/ - On May 26, 2014, Robertson Stromberg LLP, counsel in the Barrick Gold Corporation (TSX: ABX) securities class action 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.
If you acquired Barrick Gold Corporation securities during the period from May 7, 2009 to November 1, 2013, please contact Robertson Stromberg LLP at 1-888-723-4305.
Robertson Stromberg is part of the consortium of firms prosecuting the Barrick class action headed by Koskie Minsky LLP, Sutts, Strosberg and Groia & Company Professional Corporation.
SOURCE: Koskie Minsky LLP
For further information: Media contacts: Reynold A. Robertson, Q.C., 1-800-667-0070