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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of April 2, 2019 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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October 31, 2018 - The court preliminarily approved the settlement.
September 19, 2018 - A stipulation of settlement was filed by the parties.
August 29, 2017 - The court granted in part and denied in part defendants' motion to dismiss.
October 14, 2016 - A motion to dismiss the amended consolidated complaint was filed.
August 15, 2016 - An amended consolidated complaint was filed.
February 24, 2016 - An investor in shares of BHP Billiton Limited (ADR) (NYSE: BHP) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by BHP Billiton Limited in connection with certain allegedly false and misleading statements made between September 25, 2014 and November 30, 2015.
According to the complaint the plaintiff alleges on behalf of purchasers of BHP Billiton Limited (ADR) (NYSE: BHP) common shares between September 25, 2014 and November 30, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 25, 2014 and November 30, 2015 defendants knew or recklessly disregarded the precarious condition of mining operations and facilities at the Samarco mine, a Brazilian mining operation jointly owned by BHP Billiton Limited and Vale S.A., yet made materially false and misleading statements concerning the Company's commitment to safety and the implementation of safety and monitoring protocols at the mine sites. BHP Billiton Limited reported that its Total Revenue declined from over $56.76 billion for the 12 months period that ended on June 30, 2014 to over $44.63 billion for the 12 months period that ended on June 30, 2015 and that its respective Net Income for those respective time periods declined from over $13.83 billion to $1.91 billion.
On November 5, 2015 the Fundão Dam in Brazil suffered a catastrophic rupture, releasing a large volume of toxic sludge into Brazil’s Santarém river valley causing flooding and at least 13 deaths. The Fundao Dam was built to accommodate the waste that results from the extraction of iron ore from the mines in the region. The dam was operated by Samarco Mineração SA, a joint venture between Vale S.A. and BHP Billiton Limited.
On November 27, 2015, Brazilian Environment Minister Izabella Teixeira told reporters that Brazil's federal and state governments plan to sue Vale, BHP Billiton Limited and Samarco in response to the Fundao Dam disaster.