Friday, October 29, 2010

BHP (NYSE:BHP) Gets Interim Sealing of Potash (NYSE:POT) Complaint in Lawsuit

Chicago U.S. District Judge Charles Norgle allowed a request by (NYSE:BHP) to be awarded where parts of a complaint filed by Potash Corp. Inc. (NYSE:POT) will be sealed on an interim basis.

The judge gave BHP until the close of business on November 1 to explain why the seven paragraphs being sealed should remain so. Potash was given a three-day period to respond.

BHP has claimed the paragraphs represent “highly confidential and sensitive business information.”

A prior request to seal portions of the complaint was denied by U.S. District Judge David H. Coar. It was later on that same day BHP filed an emergency motion to have parts of the complaint sealed.

The lawsuit filed by Potash against BHP claims the giant mining company made public statements which led to the value of the shares of the fertilizer company to lose value because they were misleading to the public.

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