October 06, 2015
Brazilian oil company Petrobras doubled down Monday on efforts to ditch parts of a $98 billion shareholder suit alleging it engaged in a bribery and kickbacks scheme to enrich executives and government officials, saying plaintiffs in consolidated individual actions lack standing and had not shown their securities were purchased domestically.
May 18, 2015
Another group of investors has launched a lawsuit against Petrobras, claiming the embattled Brazilian oil company overstated its assets by concealing billions of dollars in kickbacks, bribes and inflated contracts that, when discovered, dealt New York Stock Exchange investors heavy losses.