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Braskem S.A.

Company NameBraskem S.A.
Stock SymbolBAK

On November 30, 2023, Braskem disclosed that it was required to pay $203 million to repair damages at a rock-salt mine that it owns in Maceió. On this news, Braskem’s stock price fell $0.58, or 6.9%, to close at $7.78 per share on November 30, 2023, thereby injuring investors.

Then, on December 8, 2023, after the market closed, Braskem confirmed that it had “entered into an agreement with the Municipality of Maceió (“Global Agreement”) for the payment of [$347.14 million], which establishes the indemnity, compensation and full reimbursement from the Municipality of Maceió in relation to any and all pecuniary and non-patrimonial damages incurred by it.” On this news, Braskem’s stock price fell $0.30, or 4.2%, to close at $6.86 per share on December 11, 2023, thereby injuring investors further.

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