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U.S. law firm files class action suit vs. Rio Tinto over Mozambique coal deal

Published 10/24/2017, 09:20 AM
© Reuters.  U.S. law firm files class action suit vs. Rio Tinto over Mozambique coal deal
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  • Rio Tinto (NYSE:RIO) is the subject of a U.S. class action lawsuit related to SEC fraud charges against the company stemming from an ill-fated investment in Mozambique coal mining.
  • Seattle-based Hagens Berman Sobol Shapiro says it filed the suit on behalf of purchasers of Rio ADRs between Oct. 23, 2012 and Feb. 15, 2013 in U.S. District Court in New York.
  • The SEC last week charged Rio and two of its former top executives with fraud, saying they inflated the value of Mozambique coal assets and concealed critical information while tapping the market for billions of dollars.
  • Now read: The Market Is Likely Wrong About Jaguar Mining

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