The Rising Influence of Rising Affluence

[DewDiligence]

Vale obtains new favorable legal decision in tax-related legal proceedings:

http://www.sec.gov/Archives/edgar/data/917851/000110465912036044/a12-11329_46k.htm

Vale S.A. informs that it obtained a favorable ruling of the Supreme Court (STF), suspending the effects of a prior ruling of the Regional Federal Court of the 2nd Region (TRF2), relating to the taxation on profits of our non-Brazilian subsidiaries and affiliates. This new ruling suspends all the payment demands that have been asserted, and consequently also the requirement to post bond to continue contesting the assessments.

So, the reversal of the reversal has now been reversed! Hopefully, this will be the last ruling, but I wouldn’t bank on it.