A class action lawsuit is being filed on behalf of investors who purchased Vale Securities (NYSE: VALE) common stock between April, 11th, 2017 and January 28th, 2019 and on behalf of Vale Overseas Limited bondholders (CUSIP: 91911TAP8 and ISIN: US91911TAP84) who invested during the same period.
If you lost money in Vale Securities, either as a common stockholder or as a bondholder, we want to hear from you. For a free, no obligation initial consultation, please call us today at 305.912.3000. We handle all class action securities fraud claims on a contingency fee basis.
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Allegations: Vale Securities Failed to Mitigate and Disclose Risks
According to the class action securities fraud lawsuit filed on behalf of Vale Securities stockholders and Vale Overseas Limited bondholders, the company made false and misleading statements to investors — failing to disclose material risks.
In January of 2019, Vale reported that there was a serious dam breach at its Feijão iron ore mine in Southern Brazil. Nearly two dozen people were killed in the incident. Allegations are being raised that the dam breach occurred, at least in part, because Vale failed to adequately mitigate health and safety risks at the site.
Investors who sustained losses as a result of the company’s conduct may be entitled to financial compensation.
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