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Petrobras: Service of complaint in the United States


Published Dec 12, 2014
Petrobras

Petrobras informs the market that on December 09, it has been served with the class action complaint filed yesterday by Peter Kaltman in the United States District Court, Southern District of New York.

Plaintiff confirms that he is a holder of American Depository Shares (ADS) of Petrobras and purports to represent a class consisting of all purchasers of ADS on the New York Stock Exchange between May 20, 2010 and November 21, 2014, who were allegedly harmed by the share price drop in connection with the recent accusations of corruption. According to the plaintiff, Petrobras made misleading statements to the market. Based on these allegations, plaintiff seeks unspecified monetary damages.

Petrobras will obtain legal representation from a specialized American law firm.

Petrobras reiterates its cooperation with the ongoing investigations by regulatory authorities.

Tags: Petrobras




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