According to the law firm press release, the complaint filed in this action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, 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; (3) that these developments would impact (and were impacting) the production capacity of the Veladero mine; (4) that as such, the Company’s Veladero mine production guidance and total gold production guidance were overstated; and (5) that, 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.
On October 4, 2017, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. The consolidated cases shall be identified as: In re Barrick Gold Corporation Securities Litigation . Lead Plaintiff filed a Consolidated Amended Complaint on December 4.