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lecorb

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lecorb

Re: lecorb post# 1580

Friday, 07/10/2015 12:55:11 PM

Friday, July 10, 2015 12:55:11 PM

Post# of 1749
Judge allows lawsuit over Petrobras bribery claims .Big Rats!


Jul 10 2015, 12:21 ET | About: Petrobras - Petroleo Brasil... (PBR) | By: Carl Surran, SA News Editor


A U.S. judge rejects Petrobras' (PBR +2%) effort to dismiss a lawsuit claiming that years of corruption, including bribery, caused more than $98B of its stock and bonds to be overvalued.
Investors accuse PBR of publishing misleading financial statements and overstating the quality of internal controls during the money laundering and bribery scheme that cut the value of the company’s securities.
In seeking to dismiss the investor lawsuit, lawyers for PBR had argued that the company was itself a victim, and not accountable for the wrongful actions of a few individuals
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