Investor Says Top Mining Firm Misled Over Gold Production

Newmont Corp. materially misled investors ahead of “disappointing” quarterly results last year, a proposed securities class action lawsuit says.

James Karas, on behalf of himself and the proposed class, says Newmont and three of its officers violated the Exchange Act. The Jan. 31 complaint, filed in the US District Court for the District of Colorado, seeks class certification, damages, reasonable attorneys’ fees, and costs.

“Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning Newmont’s ability to deliver increased gold production,” the complaint says.

“Newmont ...