Barrick Gold Corporation
The law firms of Koskie Minsky LLP, Sutts, Strosberg LLP, Siskinds LLP and Groia & Company Professional Corporation are counsel in a class action against Barrick Gold Corporation (“Barrick”) and a number of its officers and directors. The claim is on behalf of all persons, other than certain persons associated with the defendants, who acquired Barrick securities during the period from October 29, 2010 to November 1, 2013 (“Class Period”).
The plaintiff alleges that throughout the Class Period, there were misrepresentations in Barrick’s public disclosure relating to Barrick’s development of the Pascua-Lama mine located on the border between Chile and Argentina. In particular, Barrick failed to disclose that certain key development activities at the Pascua-Lama mine were not in compliance with certain environmental conditions imposed by the Chilean government on Barrick’s approval to develop the Pascua-Lama Project. The purpose of these conditions was to ensure that the development and, later, the mining of the Pascua-Lama Project would have the least possible adverse impact on the community and the environment.
July 18, 2016
The Court of Appeal dismissed the appeal of the motion for carriage. A copy of the reasons are available here.
April 27, 2016
The appeal of the motion for carriage to the Court of Appeal for Ontario was heard on April 27, 2016. The Court of Appeal reserved its decision.
March 28, 2016
The appeal of the motion for carriage to the Court of Appeal for Ontario is scheduled to be heard on April 27, 2016.
January 14, 2016
Leave to appeal to the Court of Appeal was granted.
June 15, 2015
The appeal of the carriage decision was denied. A copy of the decision is available here.
June 6, 2015
The plaintiffs in this action have brought a motion to the Court of Appeal for Ontario for leave to appeal the Divisional Court’s carriage decision.
December 23, 2014
Leave to appeal the carriage decision was granted. The appeal of the carriage decision has been scheduled for March 16, 2015.
December 10, 2014
Carriage has been awarded to the Trustees of the Drywall Acoustic Lathing and Insulation Local 675 Pension Fund, represented by Rochon Genova, Merchant Law, and Rosen Naster LLP. Koskie Minsky LLP, Siskinds LLP, Sutts, Strosberg LLP and Groia & Co. P.C. intend to seek leave to appeal the carriage decision.
November 13, 2014
The motion to determine carriage of this class action was heard on November 12 and 13. The Court has not yet delivered its decision.
September 22, 2014
A motion to determine carriage of this class action has been scheduled for November 12 and 13, 2014.
September 5, 2014
The plaintiffs have amended the statement of claim. A copy of the Fresh as Amended Statement of Claim is available here.
June 20, 2014
The plaintiffs have amended the Notice of Action and the Statement of Claim. A copy of the Amended Notice of Action is available here. A copy of the Amended Statement of Claim is available here.
May 21, 2014
The Statement of Claim was filed today. To view the Statement of Claim please click here.
April 24, 2014
The Notice of Action was issued. To view this document please click here.
- July 18, 2016
- June 15, 2015 Carriage Decision
- May 21, 2015 Order dated May 21, 2015
- October 20, 2014 Motion Record of the Plaintiff (Motion for Carriage)
- September 5, 2014 Fresh as Amended Statement of Claim
- June 25, 2014 Second Amended Statement of Claim
- June 25, 2014 Second Amended Notice of Action
- June 10, 2014 Amended Notice of Action
- June 10, 2014 Amended Statement of Claim
- May 21, 2014 Statement of Claim
- April 24, 2014 Notice of Action Issued April 24, 2014
What is a class action?
A class action is a lawsuit which provides a method for a large group of people with common claims to join together to advance one large claim. Class actions are a more efficient and cost-effective way for groups of people with common claims to gain access to the legal system and seek justice.
What does certification mean?
In order for an action to proceed as a class action, the court must determine whether it is appropriate for the case to be treated as a class action. Some of the factors the courts consider are the extent to which the claims of the class
members are common, and whether a class action is preferable to other methods (such as individual actions) of advancing the issues. The decision as to whether a class action should be certified takes place at a certification hearing and is decided by a judge. If certified, a representative plaintiff will advance the action on behalf of all of the class members.
How do I know if I am a Class Member?
The certification order will always contain a description of who is a class member. We post the certification orders in our actions so that you can review them. You do not need to “sign up” to become involved in a class action. If you are included in the class description, you are automatically a class member who will be affected by the outcome of the class action unless you decide to “opt out”.
Are Class Members notified of the certification of the class proceeding?
Yes. After the claim has been certified, the court will authorize notice to be given to the members of the class.
Can I opt out of a class action and pursue independent legal action?
Yes. When a class action is certified, class members are always given an opportunity to opt out of the action. A deadline is imposed for opting out. If you do not opt out by the given deadline, class members will be bound by the outcome of the class action, whether it is successful or unsuccessful. If you opt out, you will not receive any benefit if the action is successful.
Will there be any cost to class members for legal fees?
Typically, class actions are handled on a contingency fee basis, which means that the class action lawyers will be paid only if the class action is successful at trial or settled. In that case, class counsel fees may be paid by the defendants or out of the settlement or judgment proceeds as approved by the court. In addition, the plaintiff may seek funding assistance from the Class Proceeding Fund which, if funding is granted, may provide funding for disbursements.
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