RIO TINTO SHAREHOLDER ALERT: ClaimsFiler Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Cl...
December 01 2017 - 10:50PM
Business Wire
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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version on businesswire.com: http://www.businesswire.com/news/home/20171201005705/en/
ClaimsFilerJerry Gallo,
844-367-9658https://www.claimsfiler.com
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