Glancy Prongay & Murray LLP Commences Investigation on Behalf of Rio Tinto plc Investors
December 19 2016 - 10:30AM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces an
investigation on behalf of Rio Tinto plc (“Rio Tinto” or the
“Company”) (NYSE: RIO) investors concerning the Company and its
officers’ possible violations of federal securities laws.
Rio Tinto is a mining and metals company with assets and
operations located worldwide.
On November 9, 2016, Rio Tinto disclosed that the Company became
aware of an alleged corruption scheme involving certain of its
executives making illegal payments to acquire mining rights. The
Company further disclosed that it had suspended Energy &
Minerals chief executive Alan Davies; and that the Company’s Legal
& Regulatory Affairs group executive Debra Valentine had
stepped down from her role.
On November 14, 2016, Bloomberg News reported that the
Company’s CEO has expressed “shock” at the extent of the corruption
scheme and disclosed that the Company had initiated an internal
probe into the alleged corruption scheme. On this news, Rio Tinto’s
ADR price fell nearly 4% on November 15, 2016.
Days later, on November 18, 2016, Bloomberg News reported
that Guinea’s Mines and Geology Minister, Abdoulaye Magassouba, had
requested Rio Tinto’s Chief Executive Officer, Jean-Sébastian
Jacques, provide more information and specifics on the internal
probe concerning corruption.
If you purchased Rio Tinto ADRs, have information or would like
to learn more about these claims, or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925
Century Park East, Suite 2100, Los Angeles, California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161219005236/en/
Glancy Prongay & Murray LLP, Los Angeles/New YorkLesley
Portnoy, 310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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