NEW YORK, March 15, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, notifies investors of class action against BHP Billiton Limited ("BHP Ltd.") (NYSE: BHP) and BHP Billiton Plc ("BHP Plc") (NYSE: BBL) (together, "BHP" or the "Company") American Depositary Receipts ("ADRs"). The class action has been filed in the United States District Court, Northern District of Illinois on behalf of a class consisting of all persons or entities who purchased BHP securities between September 25, 2014 and November 30, 2015, inclusive (the "Class Period").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
BHP Billiton is an Anglo-Australian multinational mining, metals and petroleum company headquartered in Melbourne, Australia. It is the world's largest mining company measured by 2013 revenues and Australia's largest company. The Company operates under a Dual Listed Company structure, with parent companies BHP Ltd. and BHP Plc working as a single entity by a unified board and administration.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding BHP's commitment to safety and the implementation of safety and monitoring protocols at the mine sites. Specifically, that Defendants had knowledge and disregarded the precarious condition of mining operations and facilities at the Samarco mine, a Brazilian mining operation jointly owned by BHP and Vale S.A. After this information was made public, investors suffered damages.
On November 5, 2015, a dam burst at the Samarco mining site and flooded the nearby town and river. The complaint alleges after this flood and the news associated with the Company's mishandling safety standards, the price of BHP ADRs declined. As a result of this news, the BHP Ltd.'s ADRs dropped more than 20%, from $33.43 on November 4, 2015 to $26.68 on November 30, 2015. Similarly, BHP Plc's ADRs dropped more than 26%, falling from $32.84 on November 4, 2015 to $24.25 on November 30, 2015.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint and join the action, visit the firm's website: http://www.bgandg.com/#!bhp/nehz8. To discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in BHP Billiton Limited or and BHP Billiton Plc you have until April 25, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
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