Title

Canadian Company Tried to Stop Referendum on Mine in Guatemala

Document Type

Media Mention

Publication Date

8-11-2016

Source Publication

Toronto Star

Description

A Toronto legal aid group is calling on the American securities regulator to investigate a Canadian mining company for failing to disclose a secret lawsuit aimed at preventing a referendum on its silver mine.

Even though the 2011 suit was rejected by the Constitutional Court of Guatemala — permitting a vote that overwhelmingly rejected the mine — local human rights groups say the mine’s parent company, Vancouver-based Tahoe Resources, failed in its legal obligation to disclose the lawsuit to investors.

“Publicly traded companies have an obligation under securities legislation to disclose truthfully on matters that may affect their operations. Here we have a case where they are hiding significant opposition,” said Shin Imai, a York University law professor who prepared the report on behalf of two Guatemalan rights groups.