According to the law firm press release, BHP is a leading global resources company and is among the world’s top producers of major commodities, including iron ore, metallurgical and energy coal, conventional and unconventional oil and gas, copper, aluminum, manganese, uranium, nickel and silver. The Company operates under a Dual Listed Company structure, with parent companies BHP Ltd. and BHP Plc operated as a single economic entity by a unified board and management team.
The complaint alleges that during the Class Period, 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 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.
On June 14, 2016, the Court issued an Order consolidating cases, appointing Lead Plaintiff, and approving Lead Counsel. Lead Plaintiffs filed a consolidated complaint on August 15. Defendants filed a Motion to Dismiss the consolidated Complaint on October 14. On August 29, 2017, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.