EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Samarco Mineração S.A.

New York, New York, UNITED STATES


NEW YORK, Dec. 15, 2016 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Samarco Mineração S.A.’s 10-year notes respectively due 2022, 2023, and 2024 (collectively, the “Notes”) from October 31, 2012 through November 30, 2015, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Samarco investors under the federal securities laws.

To join the Samarco class action, go to http://www.rosenlegal.com/cases-994.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Samarco’s Fundão tailings dam had longstanding systemic and structural defects; (2) Samarco ignored repeated, reliable warnings regarding the condition of the Fundão tailings dam while representing to investors that it had mitigated the risk of a catastrophic accident as much as possible through “a combination of risk management, careful evaluation, experience and knowledge,”; and (3) as a result, defendants’ statements about Samarco’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. On November 5, 2015, Samarco’s Fundão tailings dam burst. Subsequent investigations revealed that Samarco had disregarded safety concerns about the Fundão dam for years. When the truth about Samarco’s operations was revealed by the collapse of the Fundão dam and investigation into its causes, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 13, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-994.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

 


        

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