Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Vale S.A. Investors (VALE)
BENSALEM, Pa.--(BUSINESS WIRE)--Jan 31, 2019--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that acquired Vale S.A.(“Vale” or the “Company”) (NYSE: VALE ) securities between April 13, 2018 and January 28, 2019, inclusive (the ‘”Class Period”’). Vale investors have until March 29, 2019 to file a lead plaintiff motion.
On January 25, 2019, Reuters reported that a tailings dam burst at Vale’s Feijão iron ore mine in Brazil, leaving hundreds of people missing. According to the article, the mine was in the process of being decommissioned. On this news, Vale’s stock fell over 15% during intraday trading on January 28, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period Defendants made materially 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; (2) Vale’s programs to mitigate health and safety incidents were inadequate; (3) consequently, several people were killed and hundreds more were reported missing after Vale’s dam at its Feijão mine was breached; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased shares of Vale, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.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/20190131005942/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES BRAZIL NORTH AMERICA SOUTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2019.
PUB: 01/31/2019 05:05 PM/DISC: 01/31/2019 05:05 PM