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
info@bgandg.com. 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.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC