Brazilian mining company Vale SA lied to investors about its commitment to worker safety in the lead up to the recent dam collapse, a class action filed Jan. 28 alleges.
The tailings dam at Vale’s Feijao iron ore mine in Brumadinho, Brazil, burst Jan. 25. At least 58 people were killed and over 300 are missing.
The company’s stock plunged on the news, according to the suit filed in the U.S. District Court for the Eastern District of New York.
Bryan Rauch sued Vale and two of its officers alleging their wrongful acts and omissions caused him and other investors ...
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