Loading, Please Wait...

CST: 24/03/2019 17:02:08   

Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Vale S.A. (VALE)

45 Days ago

LOS ANGELES, Feb. 06, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the March 29, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Vale S.A. (“Vale” or the “Company”) (NYSE: VALE) securities between April 13, 2018 and January 28, 2019, inclusive (the “Class Period”) Vale investors have until March 29, 2019 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On January 25, 2019, Reuters reported that a tailings dam burst at Vale’s Feijão iron ore mine in Brazil, leaving hundreds of people missing. According to the article, the mine was in the process of being decommissioned. On this news, shares of Vale fell $2.46, or 18% to close at $11.20 on January 28, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Vale had failed to adequately assess the risk and damage potential of a dam breach at its Feijão iron ore mine; (2) Vale’s programs to mitigate health and safety incidents were inadequate; (3) consequently, several people were killed and hundreds more were reported missing after Vale’s dam at its Feijão mine was breached; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased shares of Vale, you may move the Court no later than March 29, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
www.glancylaw.com 
shareholders@glancylaw.com

Is your business listed correctly on America’s largest city directory network of 1,000 portals?