UPCOMING DEADLINE ALERT: Brower Piven Encourages Shareholders Who Have Losses in Excess of $100,000 from Investment in Vale S...
January 25 2016 - 1:15PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of Vale S.A. (NYSE:
VALE) (“Vale” or the “Company”) ADRs during the period between
March 21, 2015 and November 30, 2015, inclusive (the “Class
Period”). Investors who wish to become proactively involved in the
litigation have until February 5, 2016 to seek appointment as lead
plaintiff.
If you have suffered a loss from investment in Vale ADRs
purchased on or after March 21, 2015 and held through the
revelation of negative information during and/or at the end of the
Class Period, as described below, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above action.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Company ADRs during the Class Period. Brower Piven
also encourages anyone with information regarding the Company’s
conduct during the period in question to contact the firm,
including whistleblowers, former employees, shareholders and
others.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that the bursting of
the Fundao Dam at Samarco Mineração SA (“Samarco”) resulted in the
spillage of iron ore waste that Vale contracted to take from Vale’s
Algeria mine and deposit into the Fundao Dam and that Vale’s
programs and procedures to mitigate environmental, health, and
safety incidents were inadequate.
According to the complaint, following the November 10, 2015 Wall
Street Journal article indicating that there was evidence that Vale
was dumping debris from its own nearby iron-ore mines into
Samarco’s waste reservoirs, the November 24, 2015 Wall Street
Journal article questioning whether Vale was properly licensed to
dump waste from the Algeria iron-ore mine into the dam, the
November 25, 2015 United Nations notice providing details of the
environmental damage, and Vale’s November 27, 2015 admission that
there was toxic waste, the value of Vale ADRs declined
substantially.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20160125006327/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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