Petrobras settles four more lawsuits with investors in U.S

Photo iQoncept - Fotolia AdobeStock

Posted by Joseph R Fonseca

Brazil's state-run oil company Petróleo Brasileiro
SA, or Petrobras, said on Friday its board has approved
settlements with investors in four more lawsuits in a U.S.
federal court in New York.

In a securities filing, Petrobras said the new settlements would
raise total provisions for the lawsuits to $372 million in the
fourth quarter, $8 million above the quarter ended in September.
The company is settling with New York City Employees Retirement
System, Transamerica Income Shares, Internationale
Kapitalanlagegesellschaft mbH and Lord Abbett Investment Trust.

(Reporting by Marcelo Teixeira; Editing by Jonathan Oatis)

Feb 26, 2017

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