Vale informs the final agreement in class action concerning Samarco

6/10/2020

Vale informs the final agreement in class action concerning Samarco

Rio de Janeiro, June 10th, 2020 – Vale S.A. (“Vale”) informs that, following this afternoon’s hearing, the Southern District of New York granted final approval to the proposed settlement agreement concerning Samarco’s Fundão dam class action brought by holders of Vale’s American Depositary Receipts under U.S. federal securities laws. The settlement was established in the total amount of US$ 25 million. 

The Court will soon issue a judgment and order dismissing the case, which will make it no longer subject to appeals and thus, final and binding to the class members who joined the settlement. 
 

Ever since the Covid-19 outbreak began, our highest priority is the health and safety of our employees. Our IR team adopted work-from-home, and as we continue to face these new circumstances, we strongly recommend you prioritize e-mail and online engagement.

For further information, please contact:

Vale.RI@vale.com
Ivan Fadel: ivan.fadel@vale.com
Andre Werner: andre.werner@vale.com
Mariana Rocha: mariana.rocha@vale.com
Samir Bassil: samir.bassil@vale.com

This press release may include statements that present Vale’s expectations about future events or results. All statements, when based upon expectations about the future, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM) and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F.

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Vale informs the final agreement in class action concerning Samarco