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Article: European Class Action Likely For Petrobras

European Class ACtion Likely for Petrobras

A group of international investors and law firms are seeking compensation from Brazil’s state-led oil company Petrobras under European law for losses allegedly suffered as the result of a giant price-fixing, bribery and political kickback scandal.

Netherlands-based Stichting Petrobras Compensation Foundation (SPCF) has informed Petrobras of its interest in negotiating a settlement, the group said in a statement released on Wednesday.

If Petrobras refuses talks or declines to respond, the SPCF plans to file a class-action suit against the Rio de Janeiro-based company in a Dutch court in Rotterdam, the statement said.

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