San Diego, CA -- (SBWIRE) -- 06/10/2013 -- An investor, who purchased shares of Barrick Gold Corporation (USA) (NYSE:ABX), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of securities laws by Barrick Gold Corporation in connection with certain allegedly false and misleading statements made between May 7, 2009 and May 23, 2013.

Investors who purchased a significant amount of shares of Barrick Gold Corporation (USA) (NYSE:ABX) between May 7, 2009 and May 23, 2013, and / or those who purchased NYSE:ABX shares prior to May 2009 and continuously hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: August 5, 2013. NYSE:ABX investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of all purchasers of Barrick Gold Corporation (USA) (NYSE:ABX) common stock between May 7, 2009 and May 23, 2013, that Barrick Gold Corporation and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

More specifically, the plaintiff alleges that between May 7, 2009 and May 23, 2013, Barrick Gold Corporation allegedly concealed from shareholders that the costs of bringing Pascua-Lama into production far exceeded any of Barrick’s various publicly presented estimates, that Pascua-Lama presented no reasonable expectation of coming into production within any of Barrick’s various publicly presented time horizons, that Pascua-Lama’s environmental impact presented significantly greater risks to the Project and Barrick Gold Corporation than those disclosed by defendants; and that as a result, defendants had no reasonable basis for their statements regarding the cost, timing, and production estimates for the Project, or the reserves and earnings guidance for Barrick Gold Corporation.

Barrick Gold Corporation reported that its annual Total Revenue rose from over $8.13 billion in 2009 to over $11 billion in 2010, respectively $14.23 billion in 2011 and that its Net Loss of over $4.27 billion in 2009 turned into a Net Income of over $3.58 billion in 2010, respectively over $4.48 billion in 2011.

Shares of Barrick Gold Corporation (USA) grew from $27.53 per share in April 2009 to as high as $55.62 per share in April 2011.

Then, Barrick Gold Corporation reported that its annual Total Revenue rose from over $14.23 billion in 2011 to over $14.54 billion in 2012.

However its Net Income of over $4.48 billion in 2011 turned into a Net Loss of $665.00 million in 2012.

On April 10, 2013, news outlets reported that the Appeals Court of Copiapó, Chile, had issued an order suspending work on Pascua-Lama.

Shares of Barrick Gold Corporation (USA) (NYSE:ABX) declined from over $55 in April 2011 to as low as $18.17 per share in April 2013.

On May 24, 2013, Chile’s Superintendencia del Medio Ambiente (Superintendency of the Environment) issued a resolution suspending the Project pending compliance with an environmental permit, and imposing a fine equivalent to $16 million

On June 7, 2013, NYSE:ABX shares closed at $20.25 per share.

Those who purchased shares of Barrick Gold Corporation (USA) (NYSE:ABX) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com