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IN RE: Petrobras Securities Litigation

  1. February 23, 2018

    Rakoff Questions $285M Atty Fees In $3B Petrobras Deal

    U.S. District Judge Jed Rakoff on Friday pressed lawyers for a class of investors in Petrobras securities who inked a $3 billion fraud settlement with the oil giant and its auditor to justify their request for $285 million in attorneys' fees, calling on Petrobras to join him in scrutinizing the plaintiffs' billing records.

  2. February 07, 2018

    Rakoff Smacks Down Bid To Seal Riders In $3B Petrobras Deal

    U.S. District Judge Jed S. Rakoff on Tuesday refused to seal three side agreements submitted to him by class counsel in a $3 billion Petrobras investor suit settlement, saying there is a "certain irony" to trying to keep the documents under wraps when the suit stemmed from an alleged lack of disclosure by the Brazilian oil giant.

  3. October 24, 2016

    Petrobras To Settle With Pimco, Other Investors Over Scandal

    Petróleo Brasileiro SA said on Monday it has decided to settle four individual actions in which some of its largest investors outside of the Brazilian government, including Pacific Investment Management Co., sought to recover losses they blame on an ongoing corruption scandal.

  4. July 12, 2016

    2nd Circ. Panel To Consider Petrobras Stay Bid

    The Second Circuit on Tuesday said a three-judge panel will consider Petroleo Brasileiro SA's request to pause shareholder litigation against the Brazilian oil giant, which had asked for the freeze in light of its class certification challenge also at the Second Circuit.

  5. June 24, 2016

    Petrobras' Bid To Delay Shareholder Suit Denied

    A New York federal judge on Friday denied Petroleo Brasileiro SA's bid to pause shareholder litigation claiming the Brazilian oil giant concealed billions of dollars in bribes and kickbacks for years, as the Second Circuit reviews its class certification challenge.

  6. June 15, 2016

    Petrobras Challenge To Investor Class Cert. Goes Forward

    The Second Circuit said on Wednesday it would take up an appeal by Petroleo Brasileiro SA challenging class certification in a shareholder suit, which the Brazilian state oil firm claims contradicts the U.S. Supreme Court's holding in Morrison v. National Australia Bank.

  7. February 02, 2016

    Petrobras Investors Win Cert. For 2 Classes In Bribery Suit

    A New York federal judge agreed Monday to certify two classes of investors claiming Brazilian oil giant Petrobras concealed billions of dollars in bribes and kickbacks, finding a class action is still appropriate even though hundreds of investors have filed their own suits.

  8. November 09, 2015

    Petrobras Blasts Investors' Move To Certify Bribery Suit

    Petrobras has urged a New York federal judge to deny certification to a class of investors claiming the Brazilian oil giant overstated its assets by concealing billions of dollars in bribes and kickbacks, saying there's no need for a class action when more than 400 other investors have filed their own suits.

  9. October 21, 2015

    Slimmer $98B Petrobras Investor Dispute Forges Ahead

    A New York federal judge has trimmed pension funds' and other investors' suits in the $98 billion shareholder litigation against Brazilian oil giant Petrobras, shaving off several Securities Exchange Act, Securities Act, state-law and Brazilian-law claims while letting many other claims proceed.

  10. September 21, 2015

    Petrobras Investors Fight To Stay In $98B Kickbacks Suit

    Individual plaintiffs in the $98 billion Petroleo Brasileiro SA shareholder suit urged a New York federal court Friday to not dismiss their complaints, about two months after he upheld most of the class action complaints against the Brazilian oil giant.

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