Saxena White P.A. filed an original action against Aracruz and certain of its senior executives for securities fraud on November 26, 2008. The complaint alleges that instead of entering into currency derivative contracts to hedge its U.S. dollar exposure, Aracruz secretly entered into derivatives that were far larger and riskier than necessary, thereby speculating on the currency exchange rate. After hotly contested litigation and months of back and forth negotiations, Saxena White is pleased to announce that the Court preliminarily approved a $37.5 million settlement on March 14, 2013. The Court will hold a hearing on July 1, 2013 to determine whether to give final approval to the Settlement.