Vale S.A.

Case Details

Class Period:
April 13, 2018 – January 28, 2019
Date Filed:
January 28, 2019
Case Number:
1:19-cv-00526
Jurisdiction:
Eastern District of New York

Case Summary

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

Action Details

View Complaint (pdf)

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