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IN RE: Petrobras Securities Litigation

  1. July 17, 2015

    Petrobras Investors In $98B Case File Amended Complaint

    Petroleo Brasileiro SA shareholders alleging massive losses on $98 billion worth of securities have revised their allegations regarding the company's handling of a multibillion-dollar corruption and kickback probe, filing new claims on Friday, a week after a New York federal judge dismissed some claims.

  2. July 10, 2015

    Rakoff Refuses Petrobras Bid To Nix $98M Bribery Suit

    U.S. District Judge Jed Rakoff ruled Friday that Petroleo Brasileiro SA, commonly known as Petrobras, must face a significant chunk of a shareholder suit over losses in $98 billion worth of securities after a multibillion-dollar corruption and kickback probe began to roil Brazil.

  3. June 25, 2015

    Petrobras Investors Say NY Fraud Suit Should Go To Trial

    Investors seeking to hold Petroleo Brasileiro SA liable for losses tied to a multibillion-dollar corruption and kickback probe currently roiling Brazil urged a Manhattan federal judge on Thursday not to dismiss their claims, asserting that the oil giant's value was overinflated for years as a result of a "grand fraud" still coming to light.

  4. April 14, 2015

    Petrobas Securities MDL Plaintiffs Stuck With Discovery Stay

    Plaintiffs in a securities class action accusing Petroleo Brasileiro SA of concealing a multibillion-dollar kickback and bribery scheme lost a bid to lift a discovery stay on Monday after a New York federal judge ruled that parallel government-led investigations did not provide sufficient disadvantages to lift the stay.

  5. March 04, 2015

    Pomerantz Nabs Lead In Petrobras Securities Class Row

    Pomerantz LLP will take the helm on a consolidated group of securities class actions over revelations of rampant corruption at Petroleo Brasileiro SA, working as lead counsel together with lead plaintiff Universities Superannuation Scheme Ltd., according to a short order issued Wednesday by U.S. District Judge Jed S. Rakoff.

  6. February 10, 2015

    State Pensions Seek To Unify Petrobras Securities Suits

    Three state retirement funds are hoping to consolidate five separate putative class actions against Petroleo Brasileiro SA in New York federal court, arguing that they are the perfect candidates to lead shareholders of the Brazilian-owned oil company through billion-dollar securities litigation following revelations of rampant corruption in September.

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