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Stock impact report

Brazilian Court Confirms Tenaris's Obligation to Pay Indemnification in connection with its 2012 Acquisition of a Participation in Usiminas; the Decision is subject to Further Appeals [Yah...

Tenaris S.A. American Depositary Shares (TS) 
Last tenaris s.a. american depositary shares earnings: 2/19 04:34 pm Check Earnings Report
US:NYSE Investor Relations: ir.tenaris.com
Company Research Source: Yahoo! Finance
Justice (SCJ) published today its unanimous decision to reject a motion of clarification filed by Tenaris's subsidiary Confab, together with Ternium's subsidiaries Ternium Investments and Ternium Argentina (all of which compose the T/T Group under the Usiminas shareholders agreement), that had sought to revert the June 18, 2024 SCJ decision ordering the T/T Group to pay Companhia Siderúrgica Nacional, or CSN, an indemnification in connection with their 2012 acquisition of a participation in Usiminas. Notwithstanding the foregoing, the SCJ unanimously resolved to modify the applicable monetary adjustment mechanism and to cap the applicable attorney's fees, thereby lowering the aggregate amount that would be payable by the T/T Group if CSN ultimately prevails in its claims. Assuming monetary adjustment through November 30, 2024, and BRL 5 million in attorney's fees, in each case as determined pursuant to the SCJ decision published today, the revised aggregate amount potentially payabl Show less Read more
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