Vale Sued By Investors Over 2nd Brazil Dam Collapse

Law360 (February 8, 2019, 8:37 PM EST) -- Brazilian mining company Vale SA lied to investors about safety measures at a mining dam in the South American country that collapsed on Jan. 25, in an incident similar to a 2015 disaster, according to a proposed class action filed Friday in New York federal court.

Vale investor Richard Epstein sued the Rio de Janeiro-based mining corporation alleging it had failed to tell investors about conflicts of interest among safety inspectors as well as internal reports warning about potential problems with the stability of the dam.

The collapse of the dam, which was located in the town of Brumadinho in the...

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