February 10 Deadline Alert: Law Offices of Howard G. Smith Reminds Rio Tinto plc Investors of Upcoming Lead Plaintiff
Deadline and Encourages Investors to Contact the Firm
Law Offices of Howard G. Smith reminds investors of the upcoming February 10,
2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Rio Tinto plc
(“Rio Tinto” or the “Company”) (NYSE: RIO) securities between March 16, 2012 and November 14, 2016, inclusive (the “Class Period”). Rio Tinto
investors have until February 10, 2017 to file a lead plaintiff motion.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well
as failed to disclose material adverse facts about the Rio Tinto's business, operations, and prospects. Specifically, Defendants
made false and/or misleading statements and/or failed to disclose that: (1) Rio Tinto violated anti-corruption laws in connection
with its operations with respect to the Simandou project; (2) the above-mentioned violations would expose Rio Tinto to a heavy
inspection and large fines; and (3) consequently, Rio Tinto's public statements were materially false and misleading at all
relevant times.
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 shares, you may move the Court no later than February 10, 2017 to request
appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of
your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or
if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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