BHP.AU
id: 1230
BHP Group (BHP) Settlement Over The Brazilian Catastrophe
It is still possible to file a late claim. The court will decide whether to accept late claims or not.
VID649/2018
Case number08 Aug 2012
Class period Start09 Nov 2015
Class period End31 May 2024
Claim deadlineBHP Group ($BHP) has agreed to pay a settlement to investors in principle. The settlement will resolve claims related to the catastrophic collapse of a tailings dam in Brazil.
Background:
On November 5, 2015, Brazil's Fundão tailings dam at the Germano mine collapsed, causing the largest rupture ever recorded. 19 lives were lost, and the impact on communities and the environment remains catastrophic.
The mudflow from the dam traveled 600 km to the ocean, forming toxic plume. It left 400,000 people without fresh water, making it Brazil's worst environmental disaster.
Following the dam collapse, $BHP dropped in all markets from November 5 to November 30, 2015.
Case Status
Accepting Late Claims
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Plaintiffs
Vince Impiombato and Klemweb Nominees Pty Ltd
Defendants
BHP Group Limited
Judge
Justice Murphy
Trades matching type
FIFO