Barrick Hit With Investor Suit Over $8.5B Chilean Mine

Law360, New York (June 10, 2013, 7:21 PM EDT) -- Two Barrick Gold Corp. shareholders have filed a putative class action in New York federal court accusing the company of deliberately misleading investors about potential environmental issues and cost overruns on its $8.5 billion Chilean mining project.

Lewis and Patricia Clark claim in a June 5 complaint that the Canadian mining company knew as early as 2009 that its publicly disclosed cost projections for the blockbuster Pascua-Lama mine project were far below internal cost estimates for the project. The company's bullish statements about the mine's cost...
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