Tuesday, January 24, 2017

INTERNATIONAL COALITION FILES LAWSUIT IN DISTRICT COURT OF ROTTERDAM, THE NETHERLANDS, FOR DAMAGES CAUSED BY ALLEGED CORRUPTION AND FRAUD PERPETRATED BY PETROLEO BRASILIERO, CERTAIN AFFILIATES AND ITS EXECUTIVES

ROTTERDAM, Netherlands, Jan 24 (Bernama-BUSINESS WIRE) -- An International coalition announced today that a lawsuit was filed in Dutch Court yesterday on behalf of institutional investors who suffered billions of dollars in losses in their investments in Petroleo Brasiliero SA (“Petrobras”). Seeking declaratory relief as a result of the alleged corruption of the company and its executives, the coalition represents investors who purchased Petrobras securities on the BM&FBOVESPA exchange in Brazil and other securities purchased via transactions outside of, and not covered by, litigation in the United States. The damaged investor group believes the Netherlands is the optimal jurisdiction for pursuing legal action, as this is where Petrobras Global Finance B.V. and several other Petrobras entities and divisions are domiciled. In addition, the Dutch legal system has an established global settlement precedent for international investors who seek compensation pursuant to damages caused by fraud and violations of international securities laws.


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