NEW YORK, May 10, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Barrick Gold Corporation ("Barrick" or the "Company") (NYSE: ABX). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Barrick and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 24, 2017, the Company revised its full year guidance, stating that "[f]ull-year gold production is now expected to be 5.3-5.6 million ounces, down from our previous range of 5.6-5.9 million ounces." The Company attributed approximately two-thirds of the reduction to the planned sale of 50% percent of its Veladero mine. Barrick also revised Veladero-specific guidance, projecting full-year production at Veladero of 630,000-730,000 ounces, compared to the Company's previously-issued guidance of 770,000-830,000 ounces.
On this news, Barrick's share price fell $2.15, or 11.3%, to close at $16.89 on April 25, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP