UK court to reconsider $6.9 bln Brazil dam lawsuit against BHP

London’s Court of Appeal will hear a request to revive a £5 billion lawsuit against Anglo-Australian mining group BHP over a 2015 dam failure in Brazil. Judge Nicholas Underhill has agreed to an oral hearing that could help to overturn a previous Court of Appeal decision which denied a 200,000-strong Brazilian claimant group permission to appeal against a judgment to strike out the landmark case. PGMBM is representing the Brazilian claimants. More from Reuters.

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Judge hits pause in Intel patent case, says VLSI must detail investors

Delaware federal judge Colm Connolly put VLSI Technology’s patent case against Intel on hold last week, citing a failure to provide sufficient information about the company’s investors in accordance with the standing order he issued in April. Connolly said that VLSI’s disclosures gave vague information and improperly redacted details about several entities with a stake in the company.

Funder News

SPS Capital acquired by Vinci Partners

SPS Capital, a prominent Brazilian special situations fund with R$2.0 billion (USD $380 million) in assets under management, has been acquired by Vinci Partners, another leading alternative investment platform in Brazil. SPS Capital, together with PGMBM, is funding the high-profile claim against mining giant BHP in relation to the Fundão dam collapse.

New Fundings

PGMBM launches guitar price fixing claim

PGMBM has launched an opt-out group claim in the UK against famed guitar maker Fender for alleged price fixing. From 2013 to 2018, Fender required its guitars to be sold at or above a minimum price and was fined £4.5 million by the Competition and Markets Authority for breaching UK and European competition law.  PGMBM will be entering into a a funding agreement to cover the costs of the proceedings, and the proposed class representative also plans to acquire after-the-event (ATE) insurance to cover any of Fender’s costs in the event that this claim is unsuccessful.

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