Press release from Business Wire
Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Barrick Gold Corporation
Friday, July 12, 2013
Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Barrick Gold Corporation23:32 EDT Friday, July 12, 2013
BENSALEM, Pa. (Business Wire) -- 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire