NEW YORK, NY--(Marketwired - March 28, 2016) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in BHP Billiton Limited ("BHP" or the "Company") (NYSE: BHP) of the April 25, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased American Depositary Receipts ("ADRs") of BHP between September 25, 2014 and November 30, 2015, (the "Class Period"). The case, Jackson County Employees' Retirement System v. BHP Billiton Limited et al, No. 16-cv-01445 was filed on February 24, 2016, and has been assigned to Judge Naomi Reice Buchwald.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and misleading statements and omissions concerning BHP's commitment to safety and implementation of safety and monitoring protocols. In addition, the Company allegedly knew or recklessly disregarded the hazardous condition of the Fundao dam and Samarco's tailings facilities.
Specifically, on November 5, 2015, the Fundao tailings dam failed, causing the downstream Santarem water dam to overflow. The dam burst flooded the nearby town with 60 million cubic meters of mud and mine waste.
As a result, on that date and thereafter, the price of the ADRs for BHP declined with the disclosure of news and analyst reports regarding the cause of the dam failure, the Company's failure to adhere to safety standards, and BHP's potential liability and financial exposure for the dam failure.
Request more information now by clicking here: www.faruqilaw.com/BHP. There is no cost or obligation to you.
Take Action
If you invested in BHP ADRs between September 25, 2014 and November 30, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/BHP. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding BHP's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
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