Dutch Class Action Against Petrobras Moves Forward
Law360, London (June 3, 2021, 6:25 PM BST) -- Brazilian state-owned oil company Petrobras could be on the hook for billions of dollars after a Netherlands court gave investors permission to continue a group fraud suit, a litigation group announced on Thursday.
A district court in Rotterdam ruled in favor of international investors that have banded together under the Stichting Petrobras Compensation Foundation in a bid to force the company to cough up after the Brazilian firm's market value plunged in the wake of investigations into the oil giant.
A copy of the court's order wasn't immediately available in English. But according to the International Securities Associations and Foundations Management...
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