Hach Rose Schirripa & Cheverie LLP Commenced a Securities Class Action Against Vale S.A. for Violations of the Federal Securi...
08 Fevereiro 2019 - 5:03PM
Hach Rose Schirripa & Cheverie LLP has filed a class action
complaint in the United States District Court for the Eastern
District of New York on behalf of all persons and or entities who
purchased Vale S.A. [NYSE: VALE] common stock between April 13,
2018 and January 28, 2019, inclusive (the “Class Period”), seeking
remedies under the Securities Exchange Act of 1934 (the “Class”).
The action is styled Epstein v. Vale S.A., et al., Civil Action No.
19-cv-00793 (E.D.N.Y.). Investors who suffered a financial loss are
encouraged to speak directly with the attorneys litigating this
action by contacting Frank R. Schirripa, Esq. or Gregory Nespole,
Esq. at (212) 213-8311, toll free (866) LAWS-USA, or via email at
FSchirripa@hrsclaw.com or GNespole@hrsclaw.com. You may move the
Court, no later than March 29, 2019, to appoint you as lead
plaintiff, a representative party that acts on behalf of other
class members.
The Complaint alleges that during the Class
Period defendants issued to the investing public false and
misleading statements concerning the Company’s safety protocols and
compliance with applicable mining regulations. Specifically,
defendants made false and/or misleading statements and/or failed to
disclose that: (1) Vale had failed to adequately assess the risk
and damage potential of a dam breach at its Feijão iron ore mine
especially in light of its tragic experience in 2015 in connection
with the another mine catastrophe; (2) Vale’s programs to mitigate
health, safety and environmental incidents were inadequate; (3)
defendants’ mine safety auditor was not independent as required
under Brazilian mining law; (4) defendants were in possession of an
internal report commissioned by Vale itself to study the
stability of the tailings dam and the report raised concerns over
the mine’s drainage and monitoring systems; and (5) defendants
failed to disclose the existence of information that the dam was at
risk of “liquefaction,” the same issue that led to the 2015
collapse of the Samarco dam.
On January 25, 2019, catastrophe struck when
Vale’s tailings dam at the Feijao mine in the rural state of Minas
Gerais failed, killing scores of people. On this terrible news,
Vale (the world’s biggest producer of iron ore) suspended dividends
and its shares plunged the most on record, wiping out about $18
billion in market value. Specifically, the tragic events drove the
price of Vale shares down $3.66, or over 24%, between January 24,
2019 and January 28, 2019.
If you purchased Vale common stock during the
Class Period, you may, no later than March 29, 2019 request that
the Court appoint you as lead plaintiff. A lead plaintiff is a
representative party that acts on behalf of other class members in
directing the litigation.
Hach Rose Schirripa & Cheverie LLP
specializes in the fields of securities, corporate governance and
consumer protection litigation. With over 50 years of combined
experience, the firm has established itself as leading
representatives of investor and consumer rights these areas. The
firm’s attorneys have successfully litigated complex class actions
in both state and federal courts through the United States and are
committed to protecting investors’ assets and victims of corporate
wrongdoing.
CONTACT:
Frank R. Schirripa,
Esq.
Gregory M. Nespole,
Esq.
Hach Rose Schirripa & Cheverie
LLP
112 Madison Avenue
New York, New York 10016
Tel: (212) 213-8311
Fax: (212) 779-0028
Toll Free: (866)
LAWS-USA
E-Mail:
fschirripa@hrsclaw.com
Website: www.hrsclaw.com
SOURCE: Hach Rose Schirripa & Cheverie,
LLP
Vale (NYSE:VALE)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Vale (NYSE:VALE)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024