S&P/ASX 200 commodity darling BHP Billiton Limited’s (ASX: BHP) share price is on close watch after news broke today the oil and gas giant would face another law suit over Brazil’s Samarco dam catastrophe.
According to the Belfast Telegraph, a class action has been filed in Liverpool in the UK by the SPG Law firm with more than 240,000 claimants.
BHP’s share price seems untouched by such news so far today – up 0.8% to $33.40 – in line with its November surge off the back of the announcement for BHP’s US$10.4 billion buy back and special dividend program.
BHP’s shares suffered a slump in share price following its mid-October AGM and Citi placed a buy rating on the share earlier this week, albeit before news of the class action broke.
It’s unclear what the Samarco legal debacle will mean for the BHP share price, but investors should keep an eye on things.
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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.