BHP: settles US class-action lawsuit for 50 million dollars

(CercleFinance.com) - Global miner BHP has reached a settlement for a class-action lawsuit filed by shareholders in New York in relation to the Samarco dam failure in Brazil in 2015.


Under the terms of the agreement, BHP has agreed to pay the owners of American Depositary Receipts (ADRs) 50 million dollars, with no admission of liability.

In June, BHP announced an agreement which settled the 20 billion reais civil claim, establishing a process to negotiate over two years and to progress settlement of the 155 billion reais claim.

A Federal Court formally ratified this agreement yesterday.

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