The plaintiffs brought a motion for certification of a class proceeding against Barrick Gold Corporation and its officers/directors for alleged misrepresentations regarding a mining project in South America.
The court certified the secondary market claims under the Securities Act and the common law negligent misrepresentation claims, but amended the class definitions and common issues to reflect prior leave decisions.
The court declined to certify the primary market claims, finding a class proceeding was not the preferable procedure for a class of two institutional investors.
The court also declined to certify common issues for aggregate damages due to a lack of expert methodology.
The plaintiffs were awarded $2.75 million in costs for the prior leave motions.
