tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

BHP, Vale offered $1.4B to settle Brazil dam lawsuit, FT reports

Vale (VALE) and BHP Group (BHP), at a meeting in New York in June, put forth an offer of about $1.4B to settle a class action lawsuit brought in the UK by victims of one of Brazil’s worst environmental disasters, the Mariana dam accident, people familiar with the matter told Financial Times’ Suzi Ring and Michael Pooler. The offer included about $800M in compensation for victims as well as $600M for legal fees, the sources said. Pogust Goodhead, the British law firm representing the claimants, was holding out for a higher sum of about $3B, the sources added.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1