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Shareholder Class Action Filed Against Rio Tinto plc

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Rio Tinto plc (“Rio Tinto”) (NYSE: RIO) securities between March 16, 2012 and November 14, 2016, both dates inclusive (the “Class Period”).

Rio Tinto investors may receive additional information about the case by clicking the link "Join this Class Action" above. 


According to the complaint, Rio Tinto is a mining and metals company that finds, mines, and processes mineral resources. Rio Tinto has operations in Australia, North America, Asia, Europe, Africa, and South America. At all relevant times, Rio Tinto has held a significant stake in the Simandou iron mine, located in southern Guinea. Rio Tinto operates as a subsidiary of Rio Tinto Group.

The Class Period commences on March 16, 2012, when Rio Tinto filed its Annual Report on Form 20-F with the SEC, announcing its financial and operating results for the year ended December 31, 2011.

According to the complaint, on November 14, 2016, post-market, Bloomberg News published an article entitled “Rio CEO Says Staff ‘Shocked’ by Probe That May Take Years.”  The article reported, in relevant part that, “Rio Tinto Group Chief Executive Officer Jean Sebastien Jacques said an investigation into the lawfulness of a payment made to an external consultant relating to a giant iron ore project in Guinea has ‘shell-shocked’ the company and may take several years to resolve.”  Following this news, Rio Tinto’s ADR price fell $1.52, or 3.83%, to close at $38.13 on November 15, 2016, the following trading day.

Then, on November 18, 2016, Bloomberg News reported that Guinea’s Mines and Geology Minister, Abdoulaye Magassouba, wrote to Jean-Sébastian Jacques, asking him to provide details of the internal inquiry.  Bloomberg News also published an article entitled “Rio Tinto Offered Bribe for Mine, Ex-Guinea Minister Says.”  Following this news, Rio Tinto’s ADR price fell $1.01, or 2.69%, to close at $36.55 on November 18, 2016.

The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (i) Rio Tinto violated anti-corruption laws in connection with its operations with respect to the Simandou project; (ii) the foregoing violations would expose the company to significant scrutiny and large fines; and (iii) as a result of the foregoing, Rio Tinto’s public statements were materially false and misleading at all relevant times.

If you are a member of the class described above, you may no later than February 10, 2017 move the Court to serve as lead plaintiff of the class, if you so choose. 


A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for Rio Tinto plc (“Rio Tinto”) (NYSE: RIO) securities between March 16, 2012 and November 14, 2016, both dates inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Rio Tinto plc prior to the class period?
Are you a current or former employee of Rio Tinto plc ?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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