Brief: Class action suit against Petrobras halted

Tuesday, November 7, 2017

Brazil's Petrobras said on Monday that the United States Court of Appeals for the Second Circuit has granted its request for the suspension of a class action lawsuit.

The lawsuit is accusing Petrobras of making false statements to investors that overstated the value of its stock and bonds.

Start your 15 day free trial now!


Already a subscriber? Please, login

According to the state-run oil company, the suspension will last until the US Supreme Court decides whether it will accept or not an appeal by Petrobras.