Gold miner Newcrest Ltd has confirmed it is the target of a class action led by Slater & Gordon Lawyers following allegations of selective analyst briefing over its 2014 gold production numbers missing market forecasts.
In a statement to the Australian Securities Exchange, the miner said it had received notice from the law firm that it would proceed with a Federal Court class action, as previously flagged on July 19, in relation to Newcrest's June 7 market release.
Slater & Gordon has invited the miner to enter into "confidential and without prejudice discussions into these matters" prior to the commencement otherwise of legal proceedings, Newcrest said.
"Newcrest is considering its position in relation to this approach," the miner said.
"Newcrest intends to defend any proceedings if they are commenced."