EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against Rio Tinto plc - RIO
17 November 2016 - 7:55AM
Business Wire
Rosen Law Firm, a global investor rights law firm, announces it
is investigating potential securities claims on behalf of
shareholders of Rio Tinto plc (NYSE:RIO) resulting from allegations
that Rio Tinto may have issued materially misleading business
information to the investing public.
On November 9, 2016, Rio Tinto announced that on August 29,
2016, it “became aware of email correspondence from 2011 relating
to contractual payments totaling US$10.5 million made to a
consultant providing advisory services on the Simandou project in
Guinea.” Rio Tinto launched an investigation led by external
counsel, contacted U.K. and U.S. authorities, and suspended its
Energy and Minerals chief executive Alan Davies. Rio Tinto’s Legal
& Regulatory Affairs group executive Debra Valentine also
stepped down from her role.
On November 15, 2016, the Financial Times reported
that Rio Tinto’s lawyers had uncovered more than a year ago
internal emails concerning the questionable $10.5m payment to a
consultant. On this news, shares of Rio Tinto fell $1.52 per share
or approximately 4% to close at $38.13 per share on November 15,
2016, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover
losses suffered by Rio Tinto investors. If you purchased shares of
Rio Tinto, please visit the firm’s website at
http://www.rosenlegal.com/cases-998.html for more information. You
may also 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.
Follow us for updates on LinkedIn:
https://www.linkedin.com/company/the-rosen-law-firm or on Twitter:
https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20161116006575/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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