VALE INVESTORS NOTICE: Lieff Cabraser Reminds Investors of Deadline in Class Action Against Vale S.A.
A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.
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.
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