BHP Settles US Class Action Over Samarco

BHP (ASX:BHP,NYSE:BHP,LSE:BLT) has reached an agreement to settle the class action complaint filed in the US District Court of the Southern District of New York on behalf of purchasers of American Depositary Receipts of BHP Billiton Limited and BHP Billiton Plc between 25 September 2014 and 30 November 2015 in relation to the Samarco dam failure on 5 November 2015.

As quoted in the press release:

Under the terms of the agreement, BHP has agreed to pay the plaintiffs US$50 million, with no admission of liability. The agreement is subject to approval by the district court.

Click here to read the full BHP (ASX:BHP,NYSE:BHP,LSE:BLT) press release.