© Reuters.
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Thursday said Brazilian miner Vale SA (NYSE:) violated securities laws by making false and misleading disclosures about the safety of its dams ahead of a 2019 disaster that killed 270 people.
Beginning in 2016, Vale manipulated dam safety audits, obtained fraudulent stability certificates and misled local governments, communities and investors with its environmental, social and governance (ESG) disclosures, the SEC said.
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