| Company: | Petroleo Brasileiro S.A.,Petrobras Global Finance B.V., Petrobras International Finance Company S.A. |
| Ticker Symbol: | PBR, PGF, PifCo |
| Class Period: | Jan-22-10 to Mar-18-15 |
| Date Filed: | Mar-30-15 |
| Lead Plaintiff Deadline: | May-29-15 |
| Court: | Southern District of New York |
| Allegations: | |
The CAC alleges claims under the Securities Exchange Act of 1934 and Securities Act of 1933 on behalf of all persons or entities who purchased or otherwise acquired the securities of Petrobras, as well as debt securities issued by PifCo and PGF, on the New York Stock Exchange ("NYSE") between January 22, 2010 and March 18, 2015, inclusive (the "Class Period"), or pursuant to other domestic transactions (the "Class"). The CAC also alleges violations of the Brazilian Corporate Law, the Brazilian Civil Code, the Brazilian Securities Law, and the Brazilian Securities Commission Regulations, on behalf of all persons or entities who purchased or otherwise acquired Petrobras securities on the Brazilian stock exchange during the Class Period that also purchased shares on the NYSE.
The Consolidated Amended Complaint alleges that Petrobras and its senior executives engaged in a multi-year, multi-billion dollar money-laundering and bribery scheme, which was concealed from investors. Significantly, Petrobras senior executives have already acknowledged their participation in the scheme. In testimony released by a Brazilian federal court, the executive in charge of Petrobras' refining division confessed that Petrobras accepted kickbacks "from companies to whom Petrobras awarded inflated construction contracts" and "then used the money to bribe politicians through intermediaries to guarantee they would vote in line with the ruling party while enriching themselves." These illegal acts caused the Company to overstate the value of its assets on Petrobras' balance sheet. As of March 16, 2015, the corruption probe at Petrobras has already led to 40 indictments on racketeering, bribery and money laundering charges, and Brazilian prosecutors have asked the Supreme Court to investigate 34 sitting politicians, including the speakers of both houses of Congress, for allegedly receiving bribe money.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
