NEW ORLEANS, Nov. 17, 2017 /PRNewswire/ -- ClaimsFiler, a
FREE shareholder information service, reminds investors that they
have until December 22, 2017
to file lead plaintiff applications in a securities class action
lawsuit against Rio Tinto PLC (NYSE: RIO), if they purchased the
Company's American Depositary Receipts ("ADRs") between
October 23, 2012 and February 15, 2013, inclusive (the "Class
Period"). This action is pending in the United States
District Court for the Southern District of New York.
Get Help
Rio Tinto investors should visit us at
https://www.claimsfiler.com/cases/view-rio-tinto-plc-american-depositary-receipts-securities-litigation
or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Rio Tinto and certain of its executives are charged with failing
to disclose material information during the Class Period, violating
federal securities laws.
On October 17, 2017, an SEC
complaint charged that as early as August
2012 the Company knew that various developments had rendered
its coal assets in Mozambique
("RTCM") worthless (reportedly -$680
million), yet did not publicly disclose that fact, continued
to publicly tout RTCM's value to investors, and continued to
significantly overvalue it. On February 15, 2013, the Company filed its Form
6-K, reporting an 80% write-down, or $2.86B, for the asset.
On this news, the price of Rio Tinto's shares plummeted.
About ClaimsFiler
ClaimsFiler has a single mission: to serve as the information
source to help retail investors recover their share of billions of
dollars from securities class action settlements. ClaimsFiler's
team of experts monitor the securities class action landscape and
cull information from a variety of sources to ensure comprehensive
coverage across a broad range of financial instruments.
To learn more about ClaimsFiler, visit www.claimsfiler.com.
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