Entering text into the input field will update the search result below

Judge refuses Vale's bid to dismiss Rio Tinto lawsuit in U.S.

Dec. 17, 2014 7:07 PM ETVale S.A. (VALE) StockVALE, RIOBy: Carl Surran, SA News Editor
  • A U.S. District Court today rejected Vale’s (NYSE:VALE) request to dismiss a lawsuit alleging it conspired with Israeli billionaire Benjamin Steinmetz to take a West African mine away from rival Rio Tinto (NYSE:RIO).
  • The judge also dismissed Vale’s argument that the suit should be brought in an English court, saying Rio’s choice of a U.S. court is justified based on the plaintiff’s likelihood of obtaining jurisdiction over all of the defendants.
  • The civil lawsuit, filed in April, alleges that Vale and its former partner Steinmetz worked together to take Rio’s rights to the Simandou iron ore deposit through corruption.

Recommended For You

More Trending News

About VALE Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
VALE--
Vale S.A.