SQM Securities Settlement
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Welcome to the SQM Securities Settlement Website

This website has been established to provide general information related to the proposed settlement of the case known as Villella v. Chemical and Mining Company of Chile Inc., No. 1:15-cv-02106-ER-GWG (the "Litigation"), pending before the United States District Court for the Southern District of New York (the "Court"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated December 11, 2020, which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected by the Settlement if you purchased or otherwise acquired Chemical and Mining Company of Chile Inc., a/k/a Sociedad Química y Minera de Chile S.A. (“SQM” or the “Company”) American Depositary Shares (“ADSs”) during the period between June 30, 2010 through and including March 18, 2015 (the “Class Period”).

The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

As more fully described in the Notice of Pendency and Proposed Settlement of Class Action (the "Notice"), the initial complaint in this action was filed on March 19, 2015. On October 14, 2015, the Court appointed Lead Plaintiff and Lead Counsel.

On April 19, 2018, the Settling Parties participated in a voluntary confidential mediation with the Hon. Layn R. Phillips (Ret.), an experienced mediator. The mediation was preceded by submission of mediation statements by the Settling Parties. The Settling Parties engaged in good faith negotiations, but did not reach a settlement, and litigation continued. On October 9, 2020, Defendant and Lead Plaintiff participated in another mediation session with Judge Phillips. Prior to this session, the Settling Parties provided to Judge Phillips and exchanged supplemental mediation materials. The Settling Parties engaged in arm’s-length negotiations during the mediation session, and were unable to reach an agreement, but continued settlement discussions through Judge Phillips. On November 11, 2020, the Settling Parties reached an agreement-in-principle to resolve the Litigation, and executed a term sheet memorializing their agreement. The agreement included, among other things, the Settling Parties’ agreement to settle the Litigation in return for a cash payment of $62,500,000 for the benefit of the Class, subject to the negotiation of the terms of a Stipulation of Settlement and approval by the Court.

WHAT DOES THE SETTLEMENT PROVIDE?

The Settlement, if approved, will result in the creation of a cash settlement fund of $62,500,000.00 (the “Settlement Fund”). The Settlement Fund, plus accrued interest and minus the costs of the Notice and all costs associated with the administration of the Settlement Fund, as well as attorneys’ fees and expenses, and any award to Plaintiff for representing the Class, as approved by the Court (the “Net Settlement Fund”), will be distributed to eligible Class Members pursuant to the Plan of Allocation that is described in the Notice.

ADDITIONAL INFORMATION

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A CLAIM FORM The only way to be eligible to receive a payment from the Settlement. Proofs of Claim must be postmarked or submitted online on or before April 8, 2021.
EXCLUDE YOURSELF Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendant or any other Released Persons about the legal claims being resolved by this Settlement. Should you elect to exclude yourself from the Class you should understand that Defendant and the other Released Defendant Parties will have the right to assert any and all defenses they may have to any claims that you may seek to assert, including, without limitation, the defense that any such claims are untimely under applicable statutes of limitations and statutes of repose. Exclusions must be postmarked no later than March 12, 2021.
OBJECT Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and expenses. You will still be a Member of the Class. Objections must be received by the Court and counsel  on or before March 12, 2021.
GO TO THE HEARING ON APRIL 2, 2021 Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by the Court and counsel on or before March 12, 2021. 
DO NOTHING Receive no payment. You will, however, still be a Member of the Settlement Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation.

IMPORTANT DATES AND DEADLINES

Submit Proof of Claim: April 8, 2021
File Objection: March 12, 2021
Request Exclusion: March 12, 2021
File Notice of Intention to Appear: March 12, 2021
Court Hearing on Fairness of Settlement: April 2, 2021, at 10:00 a.m.