ORN Lawsuit; ORN Class Action

Class Action News

Levi & Korsinsky Announces the VALE Lawsuit; Vale Class Action

Levi & Korsinsky

March 6, 2019

NEW YORK, March 6, 2019 – Levi & Korsinsky, LLP announces that a class action has commenced on behalf of all persons or entities who purchased or otherwise acquired securities of Vale S.A. (“Vale”) (NYSE: VALE) between April 11, 2017 and January 28, 2019. You are hereby notified that the VALE lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information about the Vale class action go to: https://www.zlk.com/pslra-1/vale-s-a-loss-form or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The VALE lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Vale had failed to adequately assess the risk and damage potential of a dam breach at its Feijão iron ore mine especially in light of its experience in 2015; (ii) Vale’s programs to mitigate health and safety incidents were inadequate; (iii) Defendants filed to disclose that Vale’s auditor was not independent, as required under Brazilian mining law; (iv) Defendants failed to disclose that an internal report commissioned by Vale in 2018 to assess the stability of the tailings dam raised concerns over its drainage and monitoring systems; (v) Defendants failed to disclose the existence of information that the dam was at risk of “liquefaction,” the same issue that led to the 2015 collapse of the Samarco dam; and (vi) as a result, Vale’s public statements were materially false and misleading at all relevant times.

If you suffered a loss in Vale you have until March 29, 2019 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.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com