Vale S.A. securities suit upholds securities class action trends

frtAdmin
FRT Admin
Site administrator
January 20, 2016

VALE.S.A.As previously stated here, another securities lawsuit has been brought to a non-U.S. company whose shares are traded on a U.S. exchange. This new suit relates to Vale S.A., a Brazilian mining company, whose officers allegedly mislead investors about the company’s safety and environmental standards and risk management for the major dam failure on November 5, 2015. The CEO of Vale, Murilo Ferreria, also served as the chairman of Petrobras, which recently had securities suits filed for an alleged bribery corruption scandal.

This lawsuit reflects trends in U.S. securities class actions that we have talked about in the past. We have seen an uptick for securities class actions against non-U.S. companies listed on the U.S. stock exchange. In 2015, 20% of the filings have been related to non-U.S. companies. Also, within the past year, there have been 4 high-profile cases against Brazilian companies who are listed in the U.S.  Securities suits are also increasing in the environmental issue sector. As we move into a new year, it will be interesting to see if these trends continue and which new ones arise.

Read more about the Vale S.A. securities suit here.

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Founded in 2008, Financial Recovery Technologies (FRT) is the leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and do not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

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Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

 

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.