Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Petróleo Brasileiro S.A. – Petrobras PBR resulting from allegations that Petrobras may have issued materially misleading business information to the investing public.
On December 5, 2018, Reuters reported that Glencore and other trading firms paid over $30 million in bribes to employees of state-owned oil company Petrobras in a graft scheme that Brazilian prosecutors believe may still be ongoing. As part of the scheme, Petrobras employees offered the trading companies lower prices for oil, derivatives, and storage tanks, then shared in the savings. According to the article, top executives of the companies had "total and unequivocal" knowledge of the graft scheme. On this news, shares of Petrobras have fallen sharply during intraday trading on December 6, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Petrobras investors. If you purchased shares of Petrobras please visit the firm's website at https://www.rosenlegal.com/cases-1078.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or zhalper@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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