Investors Accuse Petrochina Of Hiding Corruption

Law360, New York (September 4, 2013, 1:53 PM EDT) -- Chinese oil and gas company Petrochina Co. Ltd., the listed arm of state-owned energy giant China National Petroleum Corp., illegally glossed over corruption that has now forced some of its top executives to resign, an investor alleged in a class action filed Tuesday in New York.

Petrochina, which is traded on the Hong Kong, Shanghai and New York stock exchanges, said in an April 2012 annual report that its executives complied with securities laws and its own internal ethical and corporate governance rules, but in late...
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