Defendant Name: Rio Tinto PLC

Defendant Type: Public Company

Document Reference: court_doc299_17-cv-07994

Document Details

Legal Case Name SEC v. Rio Tinto plc, Rio Tinto Limited, Thomas Albanese, and Guy Robert Elliott
Document Name Final Judgment as to Defendants Rio Tinto PLC and Rio Tinto Limited
Document Date 20-Nov-2023
Document Format Civil Proceeding
Case Number 17-cv-07994
Federal District Court New York, Southern District of New York
Federal District Judge Analisa Torres
Allegation Type Issuer Reporting and Disclosure
Document Summary The Court stated: "The Securities and Exchange Commission having filed a Complaint and Defendants Rio Tinto plc and Rio Tinto Limited (collectively, "Rio Tinto" or "Defendants") having entered general appearances; consented to the Court's jurisdiction over Defendants and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."

Disgorgement & Penalty Information

Resolutions
Enjoinment
Compliance Related Independent Consultant
Other Undertakings: Cooperation after the resolution
Monetary Penalties:

Civil Penalty

Individual:     $28,000,000.00 Shared:    

Related Documents:

comp-pr2017-196 17-Oct-2017 Complaint
Complaint: Jury Trial Demanded
2017-196 17-Oct-2017 Press Release--Civil Action
Rio Tinto, Former Top Executives Charged With Fraud: Worldwide Mining Company Alleged to Have Inflated Asset Values
According to a press release issued on October 17, 2017, "The SEC's complaint, which was filed in federal court in Manhattan, alleges that Rio Tinto, its former CEO Thomas Albanese, and its former CFO Guy Elliott failed to follow accounting standards and company policies to accurately value and record its assets. Instead, as the project began to suffer one setback after another resulting in the rapid decline of the value of the coal assets, they sought to hide or delay disclosure of the nature and extent of the adverse developments from Rio Tinto's Board of Directors, Audit Committee, independent auditors, and investors."
LR-24085 27-Mar-2018 Litigation Release
Rio Tinto, Former Top Executives Charged with Fraud
According to the SEC's complaint "which was filed in federal court in Manhattan, alleges that Rio Tinto, its former CEO Thomas Albanese, and its former CFO Guy Elliott failed to follow accounting standards and company policies to accurately value and record its assets. Instead, as the project began to suffer one setback after another resulting in the rapid decline of the value of the coal assets, they sought to hide or delay disclosure of the nature and extent of the adverse developments from Rio Tinto's Board of Directors, Audit Committee, independent auditors, and investors."