Gramercy, a hedge fund specializing in litigation finance, has secured a staggering $552.5 million funding to support its ongoing pollution cases. The firm is specifically targeting mining giants BHP and Vale, as well as 14 major car manufacturers implicated in the infamous “dieselgate” scandal.
The funding will enable Gramercy to pursue legal action against these companies for their alleged environmental misconduct. In the case of BHP and Vale, the hedge fund aims to hold them accountable for their role in the catastrophic Samarco dam collapse in Brazil, which resulted in significant pollution and a devastating human and ecological toll.
As for the car manufacturers involved in the “dieselgate” scandal, Gramercy’s funding will support the litigation against them for their deliberate attempts to deceive regulators and manipulate emissions tests. These companies, which include Volkswagen, Audi, and BMW, among others, are facing substantial legal repercussions for their fraudulent practices.
With this substantial funding, Gramercy is poised to take on these corporate giants, seeking justice for the environmental and public health damage caused by their actions. It remains to be seen how these cases will unfold, but this significant financial backing certainly strengthens Gramercy’s pursuit of compensation and accountability.
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