U.S. law firm files class suit against Rio Tinto over Mozambique coal
U.S. law firm files class suit against Rio Tinto over Mozambique coal. Seattle-based Hagens Berman Sobol Shapiro LLP said in a statement released in Australia on Tuesday it filed the suit on behalf of purchasers of Rio Tinto American Depositary Receipts (ADRs) between Oct. 23, 2012 and Feb. 15, 2013 in the U.S. District Court for the Southern District of New York. Rio Tinto and the two former executives have denied the charges. The SEC last week charged Rio Tinto and two of its former top executives with fraud, saying they inflated the value of Mozambique coal assets in Mozambique acquired for $3.7 billion and concealed critical information while tapping the market for billions of dollars.
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