BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the March 29, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Vale S.A. (“Vale” or the “Company”) (NYSE: VALE) securities between April 13, 2018 and January 28, 2019, inclusive (the “Class Period”). Vale investors have until March 29, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Vale investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On January 25, 2019, Reuters reported that a tailings dam burst at Vale’s Feijão 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 over 15% during intraday trading on January 28, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period Defendants made materially 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 Feijão 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 Feijão 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.
If you purchased shares of Vale during the Class Period you may move the Court no later than March 29, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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