Mining Co.'s $25M Dam Failure Deal Gets OK'd By Judge

By Pete Brush (June 10, 2020, 6:23 PM EDT) -- A Manhattan federal judge signed off Wednesday on a $25 million settlement between Vale SA and investors who say the mining giant misled them prior to a deadly dam collapse that sunk its shares — a deal that includes $5.7 million for plaintiffs' firm Bernstein Litowitz Berger & Grossmann LLP.

U.S. District Judge Gregory H. Woods approved the accord during a telephone conference, including Bernstein Litowitz's request for a $3.9 million fee and $1.8 million of expenses.

"I find that the settlement is substantively fair," Judge Woods said. "The requested fee award appears to be reasonable."

In February, investors including the...

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