Levi & Korsinsky, LLP announces the commencement of a class action lawsuit in the Northern District of New York on behalf of BHP Billiton Limited (NYSE: BHP) investors who purchased American Depositary Receipts between September 25, 2014 and November 30, 2015.
The complaint alleges that during the Class Period, defendants knew or recklessly disregarded the precarious condition of mining operations and facilities at the Samarco mine, a Brazilian mining operation jointly owned by BHP and Vale S.A., yet made materially false and misleading statements concerning the Company’s commitment to safety and the implementation of safety and monitoring protocols at the mine sites.
On November 5, 2015, a dam burst at the Samarco mining site, flooding the nearby town and river with 60 million cubic meters of mud and mine waste. On that date and thereafter, the price of BHP ADRs declined in concert with the disclosure of news and analyst reports regarding the cause of the dam failure, the Company’s failure to adhere to safety standards, and BHP’s potential liability and financial exposure for the dam failure.
If you suffered a loss in BHP you have until April 25, 2016 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.