Mining company Vale disagrees with allegations by the US market regulator SEC, which on Thursday accused the Brazilian company of, through disclosures, misleading investors about the safety of dams before the 2019 disaster in Brumadinho (MG).
The company will also contest the allegations, said Vale’s director of finance and investor relations, Gustavo Pimenta.
During a conference call to comment on the first quarter results, he commented that the company had just become aware of the allegations.
“We certainly disagree….we will certainly contest the claim, this will take its own time and we will keep the market up to date,” he said.
In a statement after the conference call, the company said the SEC had filed a lawsuit against the company in a New York court, alleging that certain disclosures by Vale violated US securities laws.
“The lawsuit focuses on disclosures related to Vale’s dam safety management prior to the tragic dam failure in Brumadinho…”, he said.
“Vale denies the SEC’s allegations, including the allegation that its disclosures violated US law, and will vigorously defend this case.”
The company reiterated the reparations commitments it made shortly after the dam collapsed.