The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Barrick Gold Corporation (NYSE: ABX) who purchased shares between February 16, 2017 and April 24, 2017. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that (1) the pipes and safety systems at the Veladero mine were not robust enough to prevent gold-bearing solution spills; (2) as a result, Argentinian authorities would restrict the addition of cyanide to the Veladero mine’s heap leach facility and require remedial work; (3) these developments would impact (and were impacting) the production capacity of the Veladero mine; (4) as such, the Company’s Veladero mine production guidance and total gold production guidance were overstated; and (5) 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.
Shareholders have until July 10, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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