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.
Workers with the Pebble Mine project test drill in the Bristol Bay region of Alaska, near the village of Iliamma, on July 13, 2007.
Northern Dynasty stock lost much of its value over several months starting in August 2020, a period that culminated late that year when the U.S. Army of Corps Engineers The settlement and other public filings do “not contain any admissions of liability,” according to a statement from Mike Westerlund, vice president of investor relations with Northern Dynasty.“To the contrary, Northern Dynasty firmly believes that the notion of a ‘secret mine plan’ is baseless and the company denies any wrongdoing alleged by the plaintiffs,” the statement from Westerlund said.
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