Brief: Class action suit against Petrobras halted

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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.

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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.