ASIC defends silence as US class-action lawyers circle Rio

Original article by Peter Ker, Jonathan Shapiro
The Australian Financial Review – Page: 15 : 20-Oct-17

Greens senator Peter Whish-Wilson has criticised the Australian Securities & Investments Commission over its tardiness in responding to allegations against Rio Tinto and its former executives. This follows a move by the US Securities & Investments Commission to file fraud charges over the valuation of Rio Tinto’s former coal assets in Mozambique. US lawyers are preparing a class action against Rio Tinto, although they say disgruntled investors should be mindful of the statute of limitations and act quickly. Some Australian law firms are also considering a class action.

CORPORATES
RIO TINTO LIMITED – ASX RIO, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN GREENS, UNITED STATES. SECURITIES AND EXCHANGE COMMISSION, HAGENS BERMAN SOBOL SHAPIRO LLP, BANNISTER LAW, MAURICE BLACKBURN PTY LTD, UBS HOLDINGS PTY LTD, BHP BILLITON LIMITED – ASX BHP

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