The cited record supports the material proposition.
Vale said in March 2023 that it would pay US$55.9 million to the SEC without admitting or denying the settled claims.
without admitting or denying the settled claims
- About
- Vale S.A.
- Claim made by
- Vale S.A., company statement
- Published
- 28 March 2023
- Evidence score
- 88 How it was scored
- Last reviewed
- 25 October 2026
Why this label
Vale's filing states the payment total and the no admission termS3. The SEC release gives the same total, made up of a US$25 million civil penalty and US$30.9 million in disgorgement and interestS2. The SEC release notes the settlement needed approval by the federal court in the Eastern District of New YorkS2. A settlement without admitting or denying is not a finding against Vale and not a clearance of Vale. The claim correctly states the terms and does not go further.
Current procedural position
Settlement announced on 28 March 2023, subject to court approvalS2S3. The approval order was not reviewed for this record.
Record supporting the assessment
Vale will make payments totaling US$ 55.9 million to the SEC.
requires Vale to pay a civil penalty of $25 million and disgorgement and pre-judgment interest of $30.9 million
Conflicting or limiting record
No record located that conflicts with this assessment.
Evidence score: 88 of 100
The score grades how well the record establishes this assessment. It is not a score of Vale S.A.. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.
| Component | Points | Max | Reason |
|---|---|---|---|
| Source authorityIs the source competent to establish the proposition? | 27 | 30 | The SEC release and the company's own filing are competent for the settlement terms. |
| DirectnessDoes the source state the proposition or only discuss adjacent facts? | 19 | 20 | Both state the amounts and the no admission term directly. |
| CorroborationDo independent records support the same material point? | 13 | 15 | The regulator and the company agree on the figures. |
| Procedural accuracyDoes the record settle the procedural state the claim describes? | 11 | 15 | The settlement is agreed, but the court approval was not confirmed from a court record. |
| CurrencyHas the record been checked against later developments? | 8 | 10 | No later reversal was found, but the approval order was not read. |
| ReproducibilityCan a reader locate the passage and repeat the assessment? | 10 | 10 | Both documents are on sec.gov. |
| Total | 88 | 100 |
Timeline
Related cases
- Securities and Exchange Commission v. Vale S.A.US District Court for the Eastern District of New York. Civil. Not stated in the sources read.Stage: Settled on 28 March 2023 without admitting or denying, subject to court approval
Revision history
- Assessment first published with label Supported.
Have a record that changes this assessment? See corrections and responses.
Sources
- S3Tier B Vale announces agreement with the United States Securities and Exchange CommissionVale S.A.. Company filing. 28 March 2023.Company statement on the no admission term and the SEC's agreement not to oppose dismissal of fraud intent claims.
- S2Tier A Brazilian Mining Company to Pay $55.9 Million to Settle Charges Related to Misleading Disclosures Prior to Deadly Dam CollapseUS Securities and Exchange Commission. Regulator press release. 28 March 2023.Supports the settlement amounts and the need for court approval. It does not state an admission.
Other claims about Vale S.A.
- Partly supported72Vale misled investors about dam safety by relying on fraudulent stability certificates and stating that all its dams were certified stable, as the SEC charged in April 2022.Regulator statement, 28 April 20225 records citedDisclosure
- Unresolved62Brazilian federal prosecutors charged that Vale and TUV SUD colluded to issue false stability declarations for the Brumadinho dam, and that 16 people committed qualified homicide.Press report, 26 January 20234 records citedSafety
- Supported73Vale said in February 2021 that it signed a global settlement for Brumadinho with the State of Minas Gerais and public authorities worth about BRL 37.7 billion.Company statement, 4 February 20212 records citedSafety