The Quebec Court of Appeal authorizes a class action under the Securities Act against Barrick Gold Corporation and two of its former officers

MONTRÉAL, Dec. 20, 2023 /CNW/ - The law firm Trudel Johnston & Lespérance hereby announces that the Quebec Court of Appeal has authorized the plaintiff Anas Nseir to institute a class action against Barrick Gold Corporation ("Barrick") and two of its former officers (collectively the "defendants"), under the Quebec Securities Act (the "QSA"). The case bears Quebec Superior Court file number 500-06-000693-149.

The Court of Appeal's decision was rendered on December 19, 2022, and has already received media coverage. The plaintiff's lawyers have postponed publication of this press release due to settlement discussions which were ultimately unsuccessful.

The class action concerns all natural and legal persons residing or domiciled in Quebec who acquired Barrick securities on the secondary market between July 26, 2012 and October 31, 2013 (the "Class Period").

The plaintiff claims that Barrick made a misrepresentation at the beginning of the Class Period when it announced that a construction step at the Pascua-Lama mining project – called "pre-stripping" – could be commenced. According to the plaintiff, this disclosure indicated misleadingly that "pre-stripping" had been commenced in compliance with the project's environmental obligations.

Specifically, the plaintiff alleges that the following disclosure of Barrick on July 26, 2012 was a misrepresentation under the QSA: "During the second quarter, the project achieved critical milestones with completion of Phase 1 of the pioneering road and also the water management system in Chile, both of which enabled the commencement of pre-stripping activities". The plaintiff claims that the price of Barrick's shares fell when this disclosure was publicly corrected. The plaintiff's allegations have not yet been proven on the merits, and the defendants deny the plaintiff's allegations.

The class action is being led by the law firm Trudel Johnston & Lespérance. Their web page for this action contains more details about it: https://tjl.quebec/recours-collectifs/barrick-gold-investisseurs-pascua-lama/.

www.tjl.quebec

SOURCE Trudel Johnston & Lespérance

Trudel Johnston & Lespérance, 750, Côte de la Place d'Armes, Suite 90, Montréal, Quebec H2Y 2X8, Telephone: [phone], Email: [email protected]