Based in New Orleans, Blanchard describes itself as the largest retail physical gold dealer in the U.S.
In a release, Barrick said the libel notice “pertains to a series of false and defamatory statements Blanchard and Doyle have published since mid-December 2002 concerning Barrick.”
He adds: “We value our good name, and are simply not prepared to tolerate the dissemination of false statements concerning Barrick that are harmful to our reputation, business interests and stakeholders.”
Barrick plans to begin proceedings in Canada for substantial damages and other relief against those responsible for the false statements. The service of a libel notice is the first step in the process.
In December, Blanchard filed an anti-trust suit alleging Barrick and investment bank J.P. Morgan Chase made some US$2 billion in short-selling profits since 1987 by “suppressing the price of gold at the expense of individual investors.”
Barrick called Blanchard’s allegations “ludicrous” and “totally without merit.”
Be the first to comment on "Barrick counter-sues Blanchard"