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.
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.
A defining year for Pebble mine December 31st, 2020 |
It was a momentous year for people who have fought for and against the proposed Pebble mine.
The U.S. Army Corps of Engineers in November denied Pebble s request for a federal permit, stopping the mine likely for good. The decision was met with mixed emotions from people in Bristol Bay.
Sue Anelon works for the Iliamna Development Corporation. She said the mine would have been a significant boost to village economies. I ve seen the good and the bad, she said. When Pebble was here and a lot of people were working, they were paying for their own groceries, they were paying their own fuel. They were buying trucks, they were buying Hondas. People were paying for things. Now they can t do that. They have to rely on the government.
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