Pogust Goodhead Issues Statement as Vale Fails to Adequately Address Brazilian Dam Disaster in Q4 Earnings Report

SÃO PAULO & LONDON--()--Pogust Goodhead, a global law firm and leader in environmental litigation, today issued the following statement in response to Vale SA’s (“Vale” or the “Company”) (VALE3:SAO) failure to address the extent of the financial impact on the Company associated with the ongoing lawsuit filed by Pogust Goodhead on behalf of more than 700,000 victims of the Mariana Dam disaster.

Tom Goodhead, Global Managing Partner and CEO of Pogust Goodhead, stated:

“Like BHP (ASX: BHP), Vale has refused to address the full scope of the significant, material impact of its financial exposure to the Mariana Dam disaster as it relates to the case brought by our firm in the United Kingdom involving nearly 700,000 victims. Given that Vale, alongside BHP, will be responsible for the damages in this case, it is critical that the Company address the effects our lawsuit will have on its stock and debt ratings.

Vale investors should question the Company’s motives for its lack of transparency around its liability in the case, as an adverse ruling in the ongoing United Kingdom litigation against both BHP and Vale, which goes to trial in October of this year, could significantly impact the price of the Company’s stock and ratings of its capital structure.”

About Pogust Goodhead

Founded by Harris Pogust and Tom Goodhead in 2018, Pogust Goodhead is an international law firm headquartered in London, England. Its growing global partnership consists of over 100 lawyers and more than 500 staff members, all working to help individuals, groups, and businesses access fair and tangible justice.

The firm has been described as “the first legal unicorn,” following a trajectory more like a Fintech start up than a traditional law firm. Pogust Goodhead represents 1.9 million clients in cases across the world, seeking billions of dollars in damages.

Since its formation, Pogust Goodhead has become a world leader in environmental litigation. In 2022 the firm secured a landmark, unanimous judgment from the Court of Appeal that allows victims of the Mariana dam disaster to seek redress against BHP and now Vale, in the Courts of England and Wales. The firm’s cases against corporate giants TÜV SÜD, Norsk Hydro and Braskem are all centered around providing redress for claimants who have suffered through a total disregard for the environment they inhabit.

Contacts

Media Contacts

Pogust Goodhead
Lauren Veevers
lveevers@pogustgoodhead.com

Simon Alcock
salcock@pogustgoodhead.com

Priscilla Mendes
pmendes@pogustgoodhead.com

Contacts

Media Contacts

Pogust Goodhead
Lauren Veevers
lveevers@pogustgoodhead.com

Simon Alcock
salcock@pogustgoodhead.com

Priscilla Mendes
pmendes@pogustgoodhead.com