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BHP.AU
id: 1230

BHP Group (BHP) Settlement Over The Brazilian Catastrophe

VID649/2018
Case number
08/08/2012
Class period Start
11/09/2015
Class period End
05/31/2024
Claim deadline

BHP 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
Distribution Preparation
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

Frequently Asked Questions

What does "in-principle" settlement mean?

If you don't file a claim before the deadline, you'll still be part of the group. However, you might miss out on participating in any settlements reached before the final judgment.

Who is eligible for this settlement?

All persons who acquired an interest in fully-paid ordinary shares in BHP Billiton Limited on the Australian Stock Exchange between August 8, 2012 and November 9, 2015.

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

What is 11thestate?

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

  1. Prepare documents for your payout

  2. Audit the claim and make sure you get the maximum possible payout

  3. File a claim with the settlement administration

  4. Correspond with the settlement administration to resolve emerging issues

  5. Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.