Vale announces agreement with the United States Securities and Exchange Commission
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Vale announces agreement with the United States Securities and Exchange Commission
Vale S.A. informs that it has entered into an agreement with the United States Securities and Exchange Commission (“SEC”). The agreement will terminate a lawsuit filed by the SEC against the Company in April 2022 and will be effective once ratified by the United States District Court for the Eastern District of New York. Under the agreement, without admitting or denying the settled claims, Vale will make payments totaling US$ 55.9 million to the SEC. In addition, the SEC will not oppose Vale’s motion to dismiss all claims that the Company acted with fraudulent or reckless intent regarding its disclosures. Vale continues with its commitment to remediate and repair the damage caused by the dam collapse in Brumadinho in 2019.
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