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IN RE: Petrobras Securities Litigation

  1. September 30, 2019

    Rakoff Triples Objector's Atty Fees In $3B Petrobras Deal

    A man who saved a class of investors $46 million in legal fees stemming from their $3 billion settlement with Brazil's state-run oil giant Petrobras won almost $34,000 for his legal counsel, roughly tripling the original award.

  2. July 31, 2019

    Cornell Gets Petrobras Docs Unsealed For Arbitration Effort

    A New York federal judge said that while he would not order Petrobras to hand over previously sealed documents for a foreign arbitration effort from Cornell University, at least some of those documents can be unsealed.

  3. June 25, 2019

    Petrobras Says Don't Give Cornell Sealed Docs For Arbitration

    Petrobras is asking a New York federal court to nix Cornell University's bid for confidential information the Brazilian oil giant filed in a securities class action settled last year for $3 billion, arguing that the school shouldn't be allowed to "piggyback" on the work of the class plaintiffs.

  4. May 13, 2019

    Cornell Requests Sealed Petrobras Docs For Brazil Arbitration

    Cornell University is seeking confidential information from Brazilian oil giant Petrobras filed in litigation that was resolved last year with a $3 billion settlement, as the university pursues arbitration to hold the scandal-ridden company responsible for shareholder losses connected to a massive bribery scheme.

  5. September 20, 2018

    Rakoff Sanctions Petrobras Deal Atty For 'Kitchen Sink Brief'

    U.S. District Judge Jed S. Rakoff issued an order in New York federal court on Wednesday for a $10,000 sanction to be imposed against the attorney of an objector to the $3 billion Petrobras settlement, saying the attorney intended to "extort a payment" by delaying the settlement.

  6. August 30, 2018

    Rakoff Won't Rethink Objector Attys' Fee Bid In Petrobras Deal

    U.S. District Judge Jed Rakoff said Wednesday that he would not reconsider the significantly downsized attorneys' fees he awarded counsel for an objector to the $3 billion class action settlement with Brazilian oil giant Petrobras, saying uncertainty about an appeal of the class counsel's award shouldn't affect the objector's.

  7. August 16, 2018

    Rakoff Shaves Objector Atty's Fee Bid In $3B Petrobras Deal

    U.S. District Judge Jed Rakoff has ruled that the Center for Class Action Fairness can have just a small fraction of the nearly $200,000 in attorneys' fees requested for it by its client, an objector to the $3 billion class action settlement resolving securities fraud claims against Brazilian oil giant Petrobras.

  8. August 14, 2018

    Class In $3B Petrobras Deal Wants Objector Atty Sanctioned

    The lead plaintiff in the historic $3 billion class action settlement resolving securities fraud claims against Petrobras asked a New York federal court on Monday to sanction the counsel of record for an objector to the settlement, saying the attorney's "frivolous" arguments prove he is only trying to "line his own pockets."

  9. June 25, 2018

    Rakoff OKs $3B Petrobras Deal But Cuts Atty Fees By $100M

    U.S. District Judge Jed S. Rakoff gave final approval to Petrobras’ $3 billion class action settlement resolving securities fraud claims that arose in connection with the Brazilian oil giant’s massive corruption scandal in a ruling that shaved about one-third off the nearly $300 million sought in attorneys’ fees.

  10. March 01, 2018

    Petrobras, Investors Get Rakoff's Initial OK For $3B Deal

    Petrobras' $3 billion proposed class action settlement with investors inched one step closer to completion on Wednesday as U.S. District Judge Jed Rakoff tentatively signed off on a deal resolving securities fraud claims stemming from the Brazilian oil giant's massive corruption scandal.

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