Civil Lawsuits against Petrobras, Directors, and Underwriters for Losses Due to Concealment of Bribes

On September 25, 2015, Lord Abbett Investment Trust and other plaintiffs brought a securities action against Petrobras and affiliates, its directors, and U.S. underwriters for concealment of bribes and other misconduct arising out of the failure to reveal the material changes on the value of Petrobras assets as a result of the substantial payment of bribes and concealment of the same on Petrobras’ accounts.