UPDATE 2-U.S. judge says Rio Tinto must face SEC fraud case [Reuters (UK)]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
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Source: Reuters
U.S. judge says Rio Tinto must face SEC fraud case | Reuters 3 Min Read NEW YORK (Reuters) - A U.S. judge on Monday rejected Rio Tinto Plc’s bid to dismiss a Securities and Exchange Commission lawsuit accusing the Anglo-Australian mining company of civil fraud in its handling of a failed investment in a Mozambique coal project. U.S. District Judge Analisa Torres in Manhattan said the regulator may pursue some claims in its October 2017 lawsuit against Rio Tinto, former Chief Executive Officer Tom Albanese and former Chief Financial Officer Guy Elliott. Torres narrowed the main fraud claim against Rio Tinto and Albanese to focus on the former CEO’s statements about Mozambique growth prospects, finding no proof they intended to overvalue Rio Tinto Coal Mozambique (“RTCM”) by more than $3 billion. Albanese and Elliott still face SEC claims that their actions led to the overvaluation appearing in a semi-annual Rio Tinto financial report. Rio Tinto’s market value is more than $93 billion,
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News
- Midland Amends Its Lithium Option Agreement With Rio Tinto With the Addition of the Wookie Project [Yahoo! Finance]Yahoo! Finance
- Midland Amends Its Lithium Option Agreement With Rio Tinto With the Addition of the Wookie Project [Financial Post (Toronto, Ontario, Canada)]Financial Post
- How a $10-billion copper mine became a cautionary tale for the energy transition [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Rio Tinto donates $1.5 million to support the people and community of Grindavík in Iceland [Yahoo! Finance]Yahoo! Finance
- Rio Tinto donates $1.5 million to support the people and community of Grindavík in IcelandBusiness Wire
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Analyst Actions
- 3/5/24 - Liberum Capital
RIO
Sec Filings
- 4/16/24 - Form SD
- 2/27/24 - Form IRANNOTICE
- 1/25/24 - Form SC
- RIO's page on the SEC website