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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 company behind the controversial Pebble Mine in Southwest Alaska has agreed to pay nearly $6.4 million to a group of shareholders who claim they were misled by corporate leaders.
(Alaska Beacon) - Plaintiffs say recorded conversations released in 2020 revealed corporate leaders’ lies, but Northern Dynasty Minerals denies wrongdoing
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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.
In late July, Northern Dynasty Minerals received $12 million from a new, unnamed investor. This would seem to be an unusual time for a big investment, since the proposed Pebble Mine has faced significant setbacks recently.