Vale S.A. (NYSE: VALE)

DEFENDANT NAME: Vale S.A.
STOCK SYMBOL: NYSE: VALE
CASE NUMBER:
CASE NAME:
COURT: U.S. District Court for the Eastern District of New York
PRACTICE AREA: Investor Fraud
STATUS: Investigation
CLASS PERIOD: Apr. 11, 2017 - Jan. 28, 2019
LEAD PLAINTIFF DEADLINE: Mar. 29, 2019
DATE FILED:
COURT LOCATION:
RELATED DOCUMENTS:
CONTACT:
510-725-3000

Hagens Berman Sobol Shapiro LLP reminds investors in Vale S.A. (NYSE: VALE) of the March 29, 2019 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Eastern District of New York.

If you purchased or otherwise acquired shares of VALE between April 11, 2017 and January 28, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing VALE@hbsslaw.com.

According to the complaint, during the class period Defendants misled investors by falsely and/or misleadingly stating or omitting to disclose that:  (1) Vale failed to adequately assess the risk and damage potential of a dam breach at its Feijo iron ore mine; (2) Vale’s programs to mitigate health and safety incidents were inadequate; and, (3) as a result, over a hundred people were killed and hundreds more were reported missing after Vale’s dam was breached.

On March 5, 2019, the Wall Street Journal reported Vale dismissed an auditor that refused to certify the dam as safe in September 2018.

“We’re focused on investors’ losses, Defendants’ knowledge of dangerous problems with the Feijo dam, and the extent to which Defendants may have misled investors,” said Hagens Berman partner Reed Kathrein.


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01/29/19: Investigation