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.
Investors sue parent company behind gold mine in Alaska sfgate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfgate.com Daily Mail and Mail on Sunday newspapers.
Investors accuse Pebble mine executives and parent company of ‘misleading’ statements in lawsuits
Print article The company behind the controversial Pebble copper and gold mining proposal in Southwest Alaska faces lawsuits from investors claiming it misled shareholders, contributing to plunging stock values since this summer.
Two lawsuits filed in U.S. District Court in New York this month assert that Northern Dynasty Minerals violated federal securities laws when Pebble executives did not fully and accurately provide information about the project. Northern Dynasty’s stock price has plunged 85% since the summer. Developer Pebble Limited Partnership and parent company Northern Dynasty have for years sought to build the mine about 200 miles southwest of Anchorage. The proposal drew fierce pushback because it would be built near the