Barrick to Pay $140 Million in Investor Suit Over Chile Project
- Company reaches settlement in U.S. lawsuit over Pascua-Lama
- Barrick hasn’t accepted any charges of wrongdoing or liability
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Barrick Gold Corp. will pay $140 million to shareholders who sued the world’s biggest gold miner over its handling of the Pascua-Lama project on the Chile-Argentina border.
The Toronto-based company settled the class action lawsuit that was filed in a New York court, Motley Rice LLC, the firm representing holders, said in a statement Tuesday. It alleges Barrick misrepresented environmental compliance and the adequacy of its internal controls in the now stalled project.