Rio Tinto PLC (RIO) Loss Submission Form
Levi & Korsinsky, LLP announces commencement of a class action lawsuit in the USDC for the Southern District of New York on behalf of shareholders of Rio Tinto PLC who purchased shares between October 23, 2012 and February 15, 2013.
In 2011, Rio Tinto acquired certain Riversdale Mining Limited coal assets in Mozambique that became known as Rio Tinto Coal Mozambique (“RTCM”). The complaint alleges that throughout the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information regarding RTCM’s true value, including that: (1) within months of the purchase, now-former senior executives knew of material problems adversely affecting RTCM’s multi-billion dollar publicly reported valuation; (2) as time passed, the same senior executives knew of additional problems and events that, under applicable accounting rules, required an impairment analysis of RTCM and reductions in its reported valuation; and (3) these executives thwarted the required impairment analysis and continued to tout RTCM’s value to investors.
If you suffered a loss in Rio Tinto you have until December 22, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.To receive more information, please fill out the form.