Update: Market Chatter: UK Appeals Court Reportedly Upholds Ruling Dismissing Dam Failure Suit Against BHPMT NEWSWIRES - 11:49 AM ET 11:49 AM EDT, 03/24/2021 (MT Newswires) -- (Updates with Vale's stock move in fifth paragraph.) An appeals court upheld a lower court's decision to dismiss a class-action suit filed against BHP (BHP, BBL) in the UK regarding a 2015 dam failure in Brazil, Reuters reported Wednesday. The Court of Appeals endorsed the view that the case was an abuse of process since the claimants could seek compensation in Brazil, according to the report. BHP reiterated its commitment to do "the right thing" for victims, while Tom Goodhead, who represents 200,000 claimants in the case, said the decision sent "a poor message about corporate responsibility and legal consequences for wrongdoing," Reuters reported. BHP and Brazilian iron ore mining giant Vale, which co-owned the dam with BHP, have contributed about $1.7 billion to the Renova Foundation, which was set up to manage 42 reparation projects, according to the report. BHP's US-listed shares were up 1.4% in recent trading Wednesday, while Vale's NYSE-listed shares gained 2.7%.