NOTABLE CASES

Vale S.A. Settles U.S. Action for $25 Million; Pending Actions in Brazil Remain Open

March 16, 2020

CASE SUMMARY

The Complaint alleges that throughout the Class Period, Defendants issued false and misleading statements to investors and / or failed to disclose that:

  1. The accident at Samarco Mineracao S.A. (“Samarco”) of the bursting of the Fundao Dam resulted in the spillage of toxic waste;
  2. Vale had a contract with Samarco that allowed Vale to deposit iron ore waste from its treatment plants from Vale’s Alegria mine into the Fundao Dam;
  3. Vale’s programs and procedures to mitigate environmental, health, and safety incidents were inadequate; and
  4. As a result, Defendants’ statements about the Company’s business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times

When the true details entered the market, the lawsuit claims that investors suffered damages.

CLASS DEFINITION

On behalf of all persons and entities who purchased or otherwise acquired Vale S.A.’s (“Vale” or the “Company”) common or preferred stock American Depository Receipts during the Class Period

INITIAL FEDERAL FILING DATE

December 7, 2016

ELIGIBLE SECURITY ID’s

VALE S A (VALE)
2857334; 91912E105; B1G34P2; B44S4M7; BYSJJK9; US91912E1055

Vale S.A. (no ticker)
204412100; US2044121000

Vale S.A. (VALE.P)
2933900; 5330702; 91912E204; B94K2H9; US91912E2046

CLASS PERIOD

May 8, 2014 to November 27, 2015

SETTLEMENT AMOUNT

$25,000,000

CLAIM DEADLINE DATE

July 14, 2020

CLAIMS ADMINISTRATOR

JND Legal Administration

COURT

USDC – New York (Southern)

JUDGE

Hon. Gregory H. Woods

LEAD PLAINTIFF FIRMS

Alameda County Employees’ Retirement Association
Orange County Employees Retirement System

LEAD COUNSEL FIRM

Bernstein Litowitz Berger & Grossmann

Never miss an opportunity for recovery.

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