VALE INVESTORS NOTICE: Lieff Cabraser Reminds Investors of Deadline in Class Action Against Vale S.A.
26 Fevereiro 2019 - 11:00AM
Business Wire
The law firm of Lieff Cabraser Heimann & Bernstein, LLP
reminds investors of the upcoming deadline to move for appointment
as lead plaintiff in the class action litigation that has been
filed on behalf of investors who purchased or otherwise acquired
the securities of Vale S.A. (“Vale” or the “Company”) (NYSE: VALE)
between April 11, 2017 and January 28, 2019, inclusive (the “Class
Period”).
If you purchased or otherwise acquired Vale securities during
the Class Period, you may move the Court for appointment as lead
plaintiff by no later than March 29, 2019. A lead plaintiff is a
representative party who acts on behalf of other class members in
directing the litigation. Your share of any recovery in the actions
will not be affected by your decision of whether to seek
appointment as lead plaintiff. You may retain Lieff Cabraser, or
other attorneys, as your counsel in the actions.
Vale investors who wish to learn more about the litigation and
how to seek appointment as lead plaintiff should click here or
contact Sharon M. Lee of Lieff Cabraser toll-free at
1-800-541-7358.
Vale, incorporated in Brazil and headquartered in Rio de
Janeiro, Brazil, is one of the world’s largest mining companies,
and the top global producer of iron ore and nickel in the world. In
2015, the Fundão tailings dam, joint-owned by Vale and BHP Billiton
Brasil Ltda., burst, flooding downstream communities and resulting
in 19 fatalities and the worst environmental disaster in Brazilian
history.
On January 25, 2019, Vale’s tailings dam at its Feijão iron ore
mine in Brumadinho, Brazil collapsed, flooding Brumadinho and
killing hundreds, with many still missing. Brazilian authorities
have frozen $1.3 billion worth of Vale assets to pay for the
damages.
The action alleges that, throughout the Class Period, Vale and
certain of its senior executives made materially false and
misleading statements regarding the Company’s business and its
assessment of the risk and potential damage potential of a dam
breach at its Feijão iron ore mine, as well as the adequacy of
Vale’s programs to mitigate health and safety incidents. The scope
of Vale’s misstatements are magnified by public commitments to keep
its workplace safe and to minimize environmental damage following
the 2015 Fundão dam collapse. On news of the dam collapse, the
price of Vale’s American Depositary Receipts (“ADRs”) fell by $2.46
per share, or 18%, over the next 3 trading days to close at $11.20
on January 28, 2019, eliminating more than $2.5 billion in
shareholder value.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San
Francisco, New York, and Nashville, is a nationally recognized law
firm committed to advancing the rights of investors and promoting
corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for fourteen years. In
compiling the list, the National Law Journal examines recent
verdicts and settlements and looked for firms “representing the
best qualities of the plaintiffs’ bar and that demonstrated unusual
dedication and creativity.” Law360 has selected Lieff Cabraser as
one of the Top 50 law firms nationwide for litigation, highlighting
our firm’s “laser focus” and noting that our firm routinely finds
itself “facing off against some of the largest and strongest
defense law firms in the world.” In late 2016, Benchmark Litigation
named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in
America.”
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190226005405/en/
Source/Contact for Media Inquiries OnlySharon M. LeeLieff
Cabraser Heimann & Bernstein, LLPTelephone: 1-800-541-7358
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