Vale Drops $1.2B Fraud Claim Against Steinmetz

By Christopher Crosby (February 14, 2022, 2:16 PM GMT) -- Vale SA abandoned its $1.2 billion fraud lawsuit against an Israeli billionaire mid-trial on Monday after attorneys for the Brazilian mining giant said they had realized the litigation had been brought too late.

Lawyers for Vale have said they accept that its lawsuit accusing Benjamin Steinmetz and his company of corruption had been brought too late. (Photo by FABRICE COFFRINI/AFP via Getty Images) Counsel for the mining giant said they had reviewed evidence and now accepted that its lawsuit, which accused businessman Benjamin Steinmetz and his mining company of corruption, had been launched after the end of the limitation period under...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!