A lawsuit was filed on behalf of investors in BHP Billiton Limited (ADR) (NYSE:BHP) shares over alleged securities laws violations and NYSE:BHP investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/16/2016 -- A shareholder of BHP Billiton Limited (ADR) (NYSE:BHP) filed a lawsuit over alleged violations of Securities Laws by BHP Billiton Limited.
Investors who purchased shares of BHP Billiton Limited (ADR) (NYSE:BHP) have certain options and for certain investors are short and strict deadlines running. Deadline: April 25, 2016. NYSE:BHP investors should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The complaint the plaintiff alleges on behalf of purchasers of BHP Billiton Limited (ADR) (NYSE:BHP) common shares between September 25, 2014 and November 30, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 25, 2014 and November 30, 2015 defendants knew or recklessly disregarded the precarious condition of mining operations and facilities at the Samarco mine, a Brazilian mining operation jointly owned by BHP and Vale S.A., yet made materially false and misleading statements concerning the Company's commitment to safety and the implementation of safety and monitoring protocols at the mine sites.
On November 5, 2015 the Fundão Dam in Brazil suffered a catastrophic rupture, releasing a large volume of toxic sludge into Brazil's Santarém river valley causing flooding and at least 13 deaths.. The Fundao Dam was built to accommodate the waste that results from the extraction of iron ore from the mines in the region. The dam was operated by Samarco Mineração SA, a joint venture between Vale S.A. and BHP Billiton Ltd. On November 27, 2015, Brazilian Environment Minister Izabella Teixeira told reporters that Brazil's federal and state governments plan to sue Vale, BHP Billiton and Samarco in response to the Fundao Dam disaster. Shares of BHP Billiton Limited (ADR) (NYSE:BHP) declined from $73.23 per share in July 2014 to as low as $23.73. per share on December 11, 2015.
Those who purchased shares of BHP Billiton Limited (ADR) (NYSE:BHP) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego