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Summary - In an important development, on April 28, 2022, the Securities and Exchange Commission (SEC) commenced an action in the United States District Court for the...
Jason Halper Mark Beardsworth Kevin Roberts Duncan Grieve Sara Bussiere Timbre Shriver Elizabeth Moore
SEC commenced an action in New York in which it asserted that Vale S.A., a publicly-traded Brazilian mining company made false and misleading claims about the safety of its dams in the years leading up to January 2019 Brumadinho disaster.
Vale reports record Q1 as iron ore, copper prices soar in tight market Brazilian miner Vale, one of the world’s largest iron ore producers and a major copper producer, reported record first quarter financial results late April 26 as prices for these commodities soared, partly due to supply-side issues. The company said it continues to stabilize output following dam disasters that resulted in lower iron ore production in recent years and the continuing impact of COVID-19 on its operations, now seen reducing copper output. In Q1, Vale reported a pro forma adjusted EBITDA of $8.47 billion, a r...