"Environmental group Earthworks wants an investigation into possible insider trading by an investor and others involved in EPA's actions surrounding the proposed Pebble Mine in Alaska, according to a formal complaint filed yesterday with the Securities and Exchange Commission, New Jersey Bureau of Securities and Financial Industry Regulatory Authority.
The complaint was born out of an E&E News investigation that found investors in Northern Dynasty Minerals Ltd. received advance notice that EPA planned to strike down a proposed veto that effectively blocked the Canadian company's massive gold and copper project in southwestern Alaska (Greenwire, July 26).
According to Earthworks, Northern Dynasty stock spiked after the warning, before EPA officially withdrew its Obama-era Clean Water Act proposed determination on July 30."
