Tags: EU | Netherlands | Petrobras

Petrobras Investors Seek Compensation in the Netherlands

Tuesday, 24 January 2017 07:35 AM

ROTTERDAM, Netherlands (AP) — Institutional investors who say they lost billions of dollars as a result of the corruption scandal at Brazilian state-run oil giant Petrobras have launched a compensation case in the Netherlands.

In a statement Tuesday, a coalition of investors says it filed a 172-page writ at the District Court of Rotterdam claiming that investors lost billions following "significant asset write-downs and precipitous declines in Petrobras share prices" after allegations of fraud and kickbacks were revealed in 2014.

The coalition represents investors who bought Petrobras securities in Brazil and elsewhere and who are not covered by litigation in the United States.

The case was filed in the Netherlands, which is home to Petrobras Global Finance BV and other Petrobras units.

Petrobras did not immediately respond to a request for comment.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Europe
Institutional investors who say they lost billions of dollars as a result of the corruption scandal at Brazilian state-run oil giant Petrobras have launched a compensation case in the Netherlands.In a statement Tuesday, a coalition of investors says it filed a 172-page writ...
EU,Netherlands,Petrobras
131
2017-35-24
Tuesday, 24 January 2017 07:35 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved