Barrick Gold Corporation Pascua-Lama securities class action

The case

On April 30, 2014, the petitioner Steven Bodzin launched a class action against Barrick Gold Corporation and four of its Directors and Senior Officers on behalf of the following class of investors:

All natural persons and legal persons, which in the 12 months previous to April 30, 2014 had fewer than 50 employees, who reside in Quebec and acquired securities of Barrick Gold Corporation from May 7, 2009 to November 1, 2013, except the Respondents, all officers and directors of Barrick during the class period, members of their immediate families and their legal representatives, heirs, successors or assigns, and any entity in which the excluded persons have a controlling interest now or during the class period;

On March 13th, 2015, Mr. Anas Nseir filed a motion seeking permission to replace Mr. Bodzin as petitioner, with Mr. Bodzin’s accord.  The file proceeded with Mr. Nseir as petitioner.

The class action lawsuit seeks compensation for holders of Barrick Gold securities who purchased shares between May 7, 2009 and November 1, 2013. The petitioner alleges that throughout that period, Barrick Gold and its officers/directors made several major misrepresentations regarding the company’s Pascua Lama mine project’s compliance with applicable environmental regulation. He also alleges that these persons failed to provide timely disclosure of material changes and made several misrepresentations regarding the progress, cost, and feasibility of the project located on the border between Chile and Argentina.

Are you a class member?

Mr. Nseir is seeking permission to represent the following class of persons:

All natural persons and legal persons, which in the 12 months previous to April 30, 2014 had fewer than 50 employees, who reside in Quebec and acquired securities of Barrick Gold Corporation from May 7, 2009 to November 1, 2013, except the Respondents, all officers and directors of Barrick during the class period, members of their immediate families and their legal representatives, heirs, successors or assigns, and any entity in which the excluded persons have a controlling interest now or during the class period;

If you think you are class member and want to receive information on the file, you can sign up to our mailing list by signing this form.

For more information on how you become a member of a class action, see our section entitled « What is a class action ? »

Case progress

On March 12, 2020, the Court denied the motion for class action.

The decision was appealed on September 25, 2020 and the case was heard on May 2, 2022. We are still awaiting the Court of Appeal’s ruling.