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Santiago, Chile, September 8, 2021 -Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) announced today that a jury in the United States District Court in Los Angeles returned a verdict against SQM North America, an SQM subsidiary (SQMNA), for US$48.1 million in a lawsuit initiated in 2010 by the City of Pomona, California seeking damages for alleged contamination from the use of SQMNA's fertilizer products in the 1930's and 1940's. The verdict is not final and is subject to post-trial motions that SQMNA and plaintiff may file, as well as appeals to the Ninth Circuit Court of Appeals. As previously disclosed by SQM, this trial was the second retrial ordered by the Ninth Circuit Court of Appeals in this lawsuit after prior jury verdicts in favor of SQMNA in the first two trials. SQMNA intends to pursue vigorously its rights to challenge the verdict in the District Court and the Court of Appeals.
In accordance with Chilean Rule No. 988, it is not possible at this time to determine any potential material financial impacts on the Company's assets, liabilities or results relating to this information.
SQM is a global company that is listed on the New York Stock Exchange and the Santiago Stock Exchange (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A). SQM develops and produces diverse products for several industries essential for human progress, such as health, nutrition, renewable energy and technology through innovation and technological development. We aim to maintain our leading world position in the lithium, potassium nitrate, iodine and thermo-solar salts markets.
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Cautionary Note Regarding Forward-Looking Statements
This news release contains 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: 'anticipate,' 'plan,' 'believe,' 'estimate,' 'expect,' 'strategy,' 'should,' 'will' and similar references to future periods. Examples of forward-looking statements include, among others, statements we make concerning the Company's capital expenditures, financing sources, Sustainable Development Plan, business and demand outlook, future economic performance, anticipated sales volumes, profitability, revenues, expenses, or other financial items, anticipated cost synergies and product or service line growth.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are estimates that reflect the best judgment of SQM management based on currently available information. Because forward-looking statements relate to the future, they involve a number of risks, uncertainties and other factors that are outside of our control and could cause actual results to differ materially from those stated in such statements, including our ability to successfully implement the Sustainable Development Plan. Therefore, you should not rely on any of these forward-looking statements. Readers are referred to the documents filed by SQM with the United States Securities and Exchange Commission, including the most recent annual report on Form 20-F, which identifies other important risk factors that could cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements are based on information available to SQM on the date hereof and SQM assumes no obligation to update such statements, whether as a result of new information, future developments or otherwise, except as required by law.
SQM - Sociedad Química y Minera de Chile published this content on 09 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2021 10:11:03 UTC.