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Barrick Gold must face U.S. lawsuit over mothballed mine
By Jonathan Stempel
Wednesday, April 1, 2015
NEW YORK -- Barrick Gold Corp. has lost its bid to dismiss a U.S. lawsuit that accuses the world's largest gold producer of concealing problems at a troubled South American mine and of fraudulently inflating the company's market value by billions of dollars.
U.S. District Judge Shira Scheindlin in Manhattan ruled on Wednesday that shareholders can pursue class-action claims that Barrick intended to deceive them about environmental problems afflicting its Pascua-Lama project on the border of Argentina and Chile.
"Though plaintiffs have not alleged a motive, they have sufficiently alleged strong circumstantial evidence of conscious misbehavior or recklessness," the judge wrote in a 55-page decision. ...
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