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S.Africa’s Sasol agrees $24 mln settlement in U.S class action suit

S.Africa’s Sasol agrees $24 mln settlement in U.S class action suit

SOUTH African petrochemical firm Sasol Ltd confirmed it has agreed to pay $24 million to settle a class action lawsuit brought by U.S investors claiming it deliberately understated the cost of its Louisiana chemical plant project. The lawsuit was brought by holders of Sasol securities who claimed the company had misled them by failing to disclose the true cost and schedule of its Lake Charles chemical plant, according to a statement posted on the website of U.S. law firm Hagens Berman which is representing the investors. In October 2019, Sasol's joint chief executives, Bongani Nqwababa and Stephen Cornell, left their positions…
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