According to the Complaint, Vale S.A. is a mining and metals company headquartered in Rio de Janeiro, Brazil.

Plaintiff's law firm issued a press release on January 28, 2018, announcing the filing of the lawsuit. According to the lawsuit, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Vale had failed to adequately assess the risk and damage potential of a dam breach at its Feijão iron ore mine; (2) Vale’s programs to mitigate health and safety incidents were inadequate; (3) consequently, several people were killed and hundreds more were reported missing after Vale’s dam at its Feijão mine was breached; and (4) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On May 13, 2019, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 19-CV-00526.

On October 25, 2019, Plaintiff filed a consolidated Complaint. Defendants filed a Motion to Dismiss the consolidated Complaint on February 21, 2020. On May 20, the Court issued an Order denying Defendants' Motion to Dismiss.

Lead Plaintiff filed a Motion for Class Certification on June 4, 2021. On January 11, 2022, the Magistrate Judge wrote a report recommending that the Class Certification Motion be granted. The Court adopted the Magistrate Judge's Report in full and granted the Class Certification Motion on March 31.