NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Vale S.A. (NYSE: VALE) resulting from allegations that Vale may have issued materially misleading business information to the investing public.
On January 25, 2019, Reuters reported that a tailings dam burst at Vale’s Feijao iron ore mine in Brazil, leaving hundreds of people missing. According to the article, the mine was in the process of being decommissioned. On this news, Vale’s stock fell $1.20 per share or over 8% on January 25, 2019.
Then, on January 26, 2019, Reuters reported that Brazil’s National Mining Agency had ordered Vale to suspend operations at its Feijao mine. Prosecutors have requested that over $1.3 billion in Vale’s accounts be frozen to pay for damages, with the expectation that more funds would be frozen in the future.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Vale investors. If you purchased shares of Vale please visit the firm’s website at https://www.rosenlegal.com/cases-1495.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or zhalper@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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