Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Vale S.A. (“Vale” or the “Company”) (NYSE: VALE) securities between October 27, 2016 and February 6, 2019, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made 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.
Current Status of Case:
On February 26, 2024, the Court denied Defendants’ Motion for Class Decertification. This action is in the discovery phase and is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.