Vale to face class action in US over Brumadinho tragedy
A class action against Brazilian mining company Vale was lodged at the New York Court by Rosen Law Firm over the tragedy involving a mine tailings dam owned by Vale in Minas Gerais state. The lawyers claim the case seeks to recover the damage for Vale investors, in accordance to the federal security laws.
Anyone investing in the company from April 13, 2018, to January 28 this year may join the action. On its website, the firm unveiled a free hotline and the email address of two lawyers so those interested in taking part may learn more about how to join.
The lawyers accuse Vale of not having assessed the risk potential of the dam at the Córrego do Feijão iron ore mine, in Brumadinho, in the Brazilian state of Minas Gerais, which led to dozens of people killed and hundreds missing.
New York law company Bronstein, Gewirtz & Grossman also plans to file a class action in order to determine whether Vale and its directors violated federal security norms. The eight percent plunge in the shares of the Brazilian giant in the New York Stock Exchange and the freezing of $1.3 billion for the possible payment of damage in the future have prompted the decision to file the lawsuit, the firm declared.
