A group of shareholders and the developer of the proposed Pebble mine in Southwest Alaska have reached a $6.4 million settlement to resolve investors’ complaints that they had been misled by the company.
The shareholders claimed they were misled by the company after the stock collapsed following events such as the release of secretly recorded audio of Pebble executives.
Investors Sue Parent Company Behind Alaska Gold Mine January 6, 2021
The company behind a proposed copper and gold mine in Alaska faces lawsuits from investors claiming it misled shareholders who have seen an 85% drop in stock value since the summer.
Two lawsuits filed in U.S. District Court in New York claim Northern Dynasty Minerals violated federal securities law when project executives did not fully provide information about the project, The Anchorage Daily News reported Friday.
Developer The Pebble Limited Partnership and parent company Northern Dynasty Minerals Ltd. sought to build a mine about 200 miles southwest of Anchorage and near the headwaters of the world’s largest sockeye salmon fishery in Bristol Bay.
January 02, 2021 - 8:51 AM
ANCHORAGE, Alaska - The company behind a proposed copper and gold mine in Alaska faces lawsuits from investors claiming it misled shareholders who have seen an 85% drop in stock value since the summer.
Two lawsuits filed in U.S. District Court in New York claim Northern Dynasty Minerals violated federal securities law when project executives did not fully provide information about the project, The Anchorage Daily News reported Friday.
Developer The Pebble Limited Partnership and parent company Northern Dynasty Minerals Ltd. sought to build a mine about 200 miles (320 kilometres) southwest of Anchorage and near the headwaters of the world s largest sockeye salmon fishery in Bristol Bay.