UPDATE 1-Dutch court will take on shareholders case against Petrobras [Reuters (UK)]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Reuters
UPDATE 1-Dutch court will take on shareholders case against Petrobras | Reuters 2 Min Read (Adds background on Dutch case and U.S. settlement) AMSTERDAM, Sept 19 (Reuters) - Litigation by shareholders against Brazilian state oil company Petroleo Brasileiro SA will proceed in the Netherlands, a Dutch court ruled on Wednesday. The district court in Rotterdam said a preliminary hearing in the case against Petrobras, as the company is known, will be held on Dec. 18. It will look into demands by Petrobras shareholders for compensation for losses due to a long-running corruption scandal at the Brazilian company, which has numerous subsidiaries headquartered in the Netherlands. Shareholders, united in the Stichting Petrobras Compensation Foundation (SPCF), claim to be misled by Petrobras as the company covered up widespread fraud for years, while issuing shares and bonds on the basis of false information. The decision comes after Petrobras, the world’s most indebted oil company, reached a $3
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