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Two US law firms announced Monday their intention to sue Vale in US courts after losses caused to investors by the violation of (19659002 ), "Rosen Law is Preparing a Clbad Action for the Recovery of Losses to Vale Investors", according to a statement from lawyers sent to investors. The office purports to investigate whether the Brazilian miner was able to "disclose materially false commercial information to the public".
Tha Schall's office claims to want to know if the miner has divulged "false and misleading information" to investors who omitted the dam risks and thereby circumvented the rules of the US stock market.
In addition to dozens of deaths and environmental damage, the office's statement indicates that the company's receipt of the company's Americaqn Depositary Receipt (ADR) – proceeds from shares traded on the New York Stock Exchange – fell 8 percent after the announcement of the crash Friday and 16% on Monday afternoon.
Vale's ON action also accumulated losses in the afternoon of this second on the São Paulo Stock Exchange, down 23.92% at 3:47 pm.
Vale's ADR is the most traded role on the New York Stock Exchange, with 84 million trades up at 2:45 pm, outperforming large US companies such as General Eletric (40 million trades) , PG & G ($ 22 million) and Bank of America ($ 21 million).
Vale has already been the subject of two similar lawsuits in the United States in 2015 after the breakup of the Samarco Dam in Mariana (MG). Analysts had already alerted Estadão / Broadcast the risk of continuing the company in the United States because of the accident. (N, n, n, n, n, n, n, n, n, n, n, n) n.callMethod.apply (n, arguments): n.queue.push (arguments)}; if (! f._fbq) f._fbq = n; n.queue = n.loaded = 0; n.version = 2.0 & # 39 ;; n.queue = []; t = b.createElement (e); t.async =! 0; t.src = v; s = b.getElementsByTagName (e) [0]; s.parentNode.insertBefore (t, s)} (window, document, script, // connect.facebook.net/en_US/fbevents. fbq (& # 39; init & # 39; ;, & # 39; 1659995760901982 & # 39;); fbq (& quot; Track & # 39; PageView & # 39;);
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