SAN FRANCISCO, March 26, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Vale S.A. (VALE) of the March 29, 2019 Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired Vale securities between April 11, 2017 and January 28, 2019 (the “class period”) and suffered losses exceeding $50,000 contact Hagens Berman Sobol Shapiro LLP. For more information about the case or to inquire about serving as Lead Plaintiff click
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, during the class period Defendants misled investors by falsely and/or misleadingly stating or omitting to disclose that: (1) Vale failed to adequately assess the risk and damage potential of a dam breach at its Feijo iron ore mine; (2) Vale’s programs to mitigate health and safety incidents were inadequate; and, (3) as a result, over a hundred people were killed and hundreds more were reported missing after Vale’s dam was breached.
On March 5, 2019, the Wall Street Journal reported Vale dismissed an auditor that refused to certify the dam as safe in September 2018.
“We’re focused on investors’ losses, Defendants’ knowledge of dangerous problems with the Feijo dam, and the extent to which Defendants may have misled investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Vale should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email VALE@hbsslaw.com.
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Reed Kathrein, 510-725-3000