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New Federal Securities Cases

Barrick Gold Corporation

A class action lawsuit has been filed in the United States District Court for the Southern District of New York against Barrick Gold Corporation ("Barrick" or the "Company") (NYSE: ABX) on behalf of all investors who purchased or otherwise acquired Barrick securities during the period from February 16, 2017 through April 24, 2017 (the "Class Period").

The lawsuit filed in this action alleges that throughout the Class Period, 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; and (3) that these developments would impact (and were impacting) the production capacity of the Veladero mine.

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 from $19.04 to $16.89 per share, damaging investors.

If you acquired Barrick securities during the Class Period, you may, no later than July 10, 2017, request that the court appoint you lead plaintiff of the proposed class. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the overall recovery for class members, including decisions concerning settlement.

If you are a current or former Barrick shareholder and wish to obtain additional information, please fill out the contact form at the link below.

Investigation Contact Form

Barrick Gold Corporation Contact Form


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