Rio Tinto's $14B Loss Is No Gold Mine For Shareholder Attys

Law360, New York (January 17, 2013, 8:10 PM EST) -- Plaintiffs attorneys smell blood after Rio Tinto PLC disclosed a $14 billion write-down Thursday and ousted CEO Tom Albanese, but experts say investors would face an uphill battle in proving the mining giant and its top executives knowingly papered over the company's red ink.

Albanese stepped down after the company said it had suffered major losses on investments in Mozambique coal and aluminum in the wake of a 2007 merger with Canadian aluminum producer Alcan Inc. The announcement sent Rio Tinto's stock down by about 0.5...
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