Investors accuse Pebble mine executives and parent company of ‘misleading’ statements in lawsuits

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Investors accuse Pebble mine executives and parent company of ‘misleading’ statements in lawsuits
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The company trying to develop the mine has seen its stock values plunge since this summer.

A lawsuit filed Dec. 4 features McCarthy Lodge co-owner Neil Darish as the lead plaintiff.filed in mid-December, it accuses Pebble officials of making “materially false and misleading statements.” It also says they failed to disclose, among other things, that the project was not in line with federal law and that the company planned a much larger project than proposed.

But in September, Northern Dynasty President Ron Thiessen and now-former Pebble CEO Tom Collier were caught in the secretly recorded videos making statements that top Alaska politicians have. They described a vision for the mine that was much broader than the 20-year project the company has applied for.

Darish said Collier lost his credibility. Collier’s statements harmed communities and people that could have benefited from the project, Darish said.He said he agreed to be named in the lawsuit to “shine a light on the truth.”Alex DeMarban is a longtime Alaska journalist who covers business, the oil and gas industries and general assignments. Reach him at 907-257-4317 or [email protected].

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