Newmont Mining Corp (NYSE:NEM) Investor Investigation Concerning Possible Violations Of Securities Laws Announced

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Company Name(s): 
Newmont Mining
Affected Securities: 
NYSE: NEM

April 08, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Newmont Mining Corp (NYSE:NEM) shares over potential securities laws violations by Newmont Mining and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Newmont Mining Corp (NYSE:NEM) concerning whether a series of statements by Newmont Mining regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Newmont Mining Corp reported that its annual Total Revenue rose from over $7.29 billion in 2014 to over $7.72 billion in 2015 while its Net Income declined from $508 million in 2014 to $220 million in 2015.

On April 20, 2016, Newmont Mining Corp filed its quarterly statement with the SEC for the three months that ended on March 31, 2016. Newmont Mining Corp said that it is conducting a review of its compliance with the Foreign Corrupt Practices Act. Specifically, Newmont Mining Corp stated that it is conducting an investigation, with the assistance of outside counsel, relating to certain business activities of the Company and its affiliates and contractors in countries outside of the United States and that the investigation includes a review of compliance with the requirements of the U.S. Foreign Corrupt Practices Act and other applicable laws and regulations.

Newmont Mining Corp also said that in March 2016, Newmont Mining Corp entered into a one-year agreement with the U.S. Securities and Exchange Commission tolling the statute of limitations relating to the investigation, and recently entered into a similar agreement with the U.S. Department of Justice.