In the LTIB, the version of Valgrind is 3.3.1. The problem may due to the Valgrind version is too old. please try the latest version of Valgrind (download from http://valgrind.org/)
Once you downloaded the latest source code from Valgrind, please save the source code package file in /opt/freescale/pkgs/.
Then modify the ltib/dist/lfs-5.1/valgrind/valgrind.spec.
Change the version number and comment out the patches for 3.3.1.
Then use the following ltib commands to build the Valgrind again.
./ltib -p valgrind -m prep (extract the source code to rpm/BUILD/)
./ltib -p valgrind -m scbuild (build the source code)
./ltib -p valgrind -m scdeploy (install to rootfs)