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Shareholders who criticized Vale's behavior filed Wednesday (30) a request to open an administrative inquiry with the Brazilian Securities and Exchange Commission (CVM). The group accuses the company of manipulating the market by concealing information about the social and environmental risks of its companies in Minas Gerais, Pará and Maranhão.
The complaint alleges the breakage of the dams of in Brumadinho .
Citing the CVM's by-laws, the shareholders support the complaint in a provision prohibiting the use of any process or device designed to increase, maintain or maintain the Company's shares in the State of Pará and Maranhão. Mariana reduce the price by encouraging the purchase or sale of shares and quotes the obligation of the company to disclose information on material facts.
Minas Gerais
In the case of Brumadinho, the shareholders argue that "Civil society has informed civil society that the rigor in the process of expansion and continuity of the Beja mine did not correspond to what was needed … "[19659002] The same document says that in 2016, the company lost $ 439 million in investments in joint ventures (partnerships with d & # 39; other companies) and cites as an example the case of the 2015 failure of the Fundão dam in Mariana, pointing out that:
There are many indications that the episode has occurred because of the negligence of the company in the surveillance of the dams and the correction of the identified problems. This resulted from an administrative decision made by Samarco to reduce safety costs and with which Vale could never agree.
– The group of shareholders also reported repeated incidents, including the suspension of the complex's activities. Vargem Grande, who has also opened an investigation into a criminal investigation for environmental licensing fraud.
Another omitted by the company vis-à-vis the investors occurred in 2016 during the inspection of the Nucrim of the Prosecutor's Office of Minas Gerais against the crime against the environment (Nucrim) and others environmental control agencies who discovered that there was erosion of the IV Fork Dam since 2002 and
– The Fourth Fork Dam accident was detected on December 16, 2016, but no communication was made to environmental agencies
. In the United States, the company is accused of having simplified the information relating to the companies Onça Puma, Salobo and S11D, informing the shareholders that the problems encountered with the local communities were only simple misunderstandings, whereas the reality denotes serious conflicts arising from the behavior adopted by society, between those who cite the lack of respect for traditional lifestyles, the forced deterritorialization, the absence the society was not able to compensate for the environmental damage, environmental contamination, irregular deforestation, non-compliance with environmental licensing clauses, among others:
– Not mentioning its liability for such "risks", Vale uses artificial means for
– Finally, the report of the company that ended the fiscal year on December 31, 2016 does not specify – the provisions made at the su ite socio-environmental conflicts – that is why the report does not give a true picture of the investment situation by failing to alert investors to the real risks of the business .
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