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Canada''s Financial Post reports on Blanchard''s clearance to sue Barrick, Morgan

Section: Daily Dispatches

Barrick, J.P. Morgan to Face Trial on Blanchard Suit

Bloomberg dispatch, September 9, 2003

a href=http://quote.bloomberg.com/apps/news?http://quote.bloomberg.com/apps/new...
pid=10000082amp;sid=a8Gl9MNaoqTMamp;refer=canada

Barrick Gold Corp. and J.P. Morgan Chase amp; Co. will
face a U.S. trial over allegations by rare coin dealer
Blanchard amp; Co. that they manipulated the price of
gold.

The judge denied a request by Barrick, the world's
third- largest gold producer, and J.P. Morgan, the
second-largest U.S. bank by assets, for a summary
judgment in the case, Blanchard said.

Judge Helen Berrigan of the Eastern District of Louisiana
found that New Orleans-based Blanchard proved its
standing to sue as well as the appropriateness of its
claims under the Sherman Act.

quot;The court finds that the complaint adequately states
a claim for Barrick's acquisition or attempted
acquisition of monopoly power in the gold-mining
market and Morgan's acquisition, or attempted
acquisition, of monopoly power in the gold derivatives
market,' the judge wrote.

Berrigan dismissed Blanchard's claim against J.P.
Morgan and Barrick for defamation, slander, and
libel. She said Barrick's dismissals of the lawsuit,
which Chief Executive Gregory Wilkins described
as quot;absolutely ridiculous,quot; were statements of
opinion rather than fact.

Barrick spokesman Vince Borg didn't immediately
respond to a request for comment left on his
answering machine.

Barrick and J.P. Morgan have 10 days to apply for
Berrigan's permission to appeal the decision to the
5th Circuit Court of Appeals.

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