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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