A US federal judge has ruled that Brazil’s Petrobras must face class action lawsuits filed by investors looking to recover losses tied to the company’s ongoing corruption scandal.
In a decision released on US District Judge Jed Rakoff of Manhattan granted class action status to two classes of plaintiffs who brought suits against Petrobras, Reuters said.
One of plaintiff classes covers Petrobras securities purchased from January 2010 to July 2015 and will be headed by UK-based Universities Superannuation Scheme.
The second class covers securities that were purchased in 2013 and 2014 and will be led by North Carolina’s treasurer and the Employees’ Retirement System of Hawaii, Reuters said.
Judge Rakoff appointed Pomerantz LLP to represent both classes.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Pfizer Settles Remaining Effexor XR Antitrust Claims for $25.5 Million
Apr 29, 2024 by
CPI
South Korean Regulator Approves LG Uplus and Kakao Mobility EV Charging Venture
Apr 29, 2024 by
CPI
Federal Judge Dismisses Doctors’ Antitrust Suit Against Ohio Health System
Apr 29, 2024 by
CPI
Paramount CEO Bob Bakish Steps Down as Merger Inches Closer
Apr 29, 2024 by
CPI
EU Brands Apple’s iPadOS as Gatekeeper in Tech Crackdown
Apr 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI