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

IMPORTANT: The full content of this page is available to premium users only.

Friday, October 16, 2015
Author: 
Bruce Zagaris
Volume: 
31
Issue: 
10
Abstract: 
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.