Go Back Email this Link to a friend

HAR - Harmony Gold Mining Company Ltd - Settlement of US class action

Release Date: 08/08/2011 12:00:01      Code(s): HAR
HAR - Harmony Gold Mining Company Ltd - Settlement of US class action           
against Harmony, subject to final court approval                                
Harmony Gold Mining Company Ltd                                                 
Incorporated in the Republic of South Africa                                    
Registration number: 1950/038232/06                                             
JSE Share code: HAR                                                             
NYSE Share code: HMY                                                            
NASDAQ Share code: HMY                                                          
ISIN: ZAE000015228                                                              
PRESS RELEASE                                                                   
Johannesburg, 8 August 2011: Harmony Gold Mining Company Limited                
(Harmony) is pleased to announce that it has reached a mutually                 
acceptable settlement with the lead plaintiff in the class action filed         
against it in the United States (US) District Court for the Southern            
District of New York in May 2008.  The settlement requires final approval       
from the court on or after a hearing scheduled for the 10th of November         
2011 and no assurance can be given that the settlement will ultimately be       
Harmony did not admit to any liability in connection with the proposed          
settlement and, if finally approved, the settlement will result in the          
dismissal of all claims against Harmony.                                        
The class action was instituted against Harmony on the basis of alleged         
losses suffered by investors in certain securities traded in US                 
securities markets during the alleged class period (25 April 2007 to and        
through 7 August 2007).                                                         
Graham Briggs, chief executive officer, commented that: "A mediated             
settlement process was followed to avoid protracted and expensive               
litigation. Management will continue to focus on what is important -            
producing safe, profitable ounces and report its results in a transparent       
and responsible manner."                                                        
For more details contact:                                                       
Marian van der Walt                                                             
Executive: Corporate and Investor Relations                                     
+27 82 888 1242(mobile)                                                         
Corporate Office:                                                               
Randfontein Office Park                                                         
P O Box 2                                                                       
South Africa 1760                                                               
T +27 (0)11 411 2000                                                            
J.P. Morgan Equities Limited                                                    
Date: 08/08/2011 12:00:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          

Email this JSE Sens Item to a Friend.

Send e-mail to
© 2021 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.