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Case Status:    ONGOING    
On or around 11/16/2016 (Ongoing date of last review)

Filing Date: November 14, 2016

According to the law firm press release, Samarco is a privately held Brazilian mining company, controlled in equal parts by the Brazilian mining company Vale S.A. (“Vale”) and the Australian mining company BHP Billiton Limited (“BHP”). The Company’s main product is iron ore pellets, made from minerals with low ore content and sold to steel makers worldwide.

Between 2012 and 2014, Samarco conducted at least three debt offerings. In 2012, the Company offered an aggregate principal amount of $1 billion of 4.125% notes due 2022 (the “2022 Notes”). In 2013, the Company offered an aggregate principal amount of $700 million of 5.75% notes due 2023 (the “2023 Notes”). In 2014, the Company offered an aggregate principal amount of $500 million of 5.375% notes due 2024 (the “2024 Notes”).

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s Fundão tailings dam had longstanding systemic and structural defects; (ii) despite representing to investors that Samarco had mitigated the risk of a catastrophic accident as much as possible through “a combination of risk management, careful evaluation, experience and knowledge,” Samarco had in fact ignored repeated, reliable warnings regarding the condition of the Fundão tailings dam; and (iii) as a result of the foregoing, Defendants’ statements about Samarco’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.


Sector: Basic Materials
Industry: Metal Mining
Headquarters: Brazil


Ticker Symbol:
Company Market: Privately Traded
Market Status: Privately Held

About the Company & Securities Data

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In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 16-CV-08800
JUDGE: Hon. Richard M. Berman
DATE FILED: 11/14/2016
CLASS PERIOD END: 11/30/2015
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 ·
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