MT. PLEASANT, S.C.,
June 20, 2016 /PRNewswire/ -- U.S.
District Judge Richard M. Berman has
granted preliminary approval to a proposed $140 million class action settlement with Barrick
Gold Corporation (NYSE: ABX), on behalf of a certified class of
shareholders who purchased Barrick common stock on the New York
Stock Exchange between May 7, 2009
and Nov. 1, 2013. The court will
consider whether to grant final approval of the settlement at a
Fairness Hearing on Oct. 18, 2016 at
10 a.m.
The settlement follows three years of litigation in connection
with the company's Pascua-Lama mine located along the border of
Chile and Argentina. Plaintiffs alleged that Barrick and
certain current and former executives misrepresented the company's
compliance with environmental regulations and the adequacy of the
company's internal controls.
Notice of the proposed settlement and claims forms will be
mailed to shareholders potentially affected by the settlement on
June 29, 2016. For more information,
please call the claims administrator The Garden City Group, LLC at
(855) 907-3222 or visit
www.barrickgoldsecuritieslitigation.com.
The postmark deadline for submitting requests for exclusion from
the certified class or written objections to any aspect of the
settlement is Sept. 21, 2016. The
postmark deadline for class members to submit claim forms is
Sept. 29, 2016.
The case is In re Barrick Gold Securities
Litigation, case number 1:13-cv-03851 in the U.S. District
Court for the Southern District of New
York.
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SOURCE Motley Rice LLC