STEVENSON, Md., June 10, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Barrick Gold Corporation ("Barrick" or the "Company") (NYSE:ABX) common stock during the period between May 7, 2009 and May 23, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in Barrick Gold Corporation common stock purchased on or after May 7, 2009, and held through any of the revelations of negative information on April 10, 2013, and/or May 24, 2013, as described below, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at email@example.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than August 5, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the cost of bringing the Company's Pascua-Lama Project ("Pascua-Lama" or "Project") into production far exceeded the amount Barrick had publicly estimated and that environmental and other matters would never enable production at Pascua-Lama within the timeframe projected by the Company. According to the complaint, following April 10, 2013 news reports that the Appeals Court of Copiapo, Chile had issued an order suspending work on Pascua-Lama, and the May 24, 2013 resolution issued by Chile's Superintendence of the Environment that suspended the Project pending compliance with an environmental permit and imposed a fine equivalent to $16 million, the value of Barrick shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616 firstname.lastname@example.orgSource: Brower Piven, A Professional Corporation