ISAF: Providing a Vehicle to Litigate
International Securities Associations and Foundations Management Company for Damaged Petrobras Investors (Bovespa) Ltd. (“ISAF Petrobras”); and a coalition of international law firms, including Lemstra Van der Korst N.V., Motley Rice, Withers LLP, and Lowey Dannenberg Cohen & Hart, support Stichting Petrobras Compensation Foundation. The Foundation has appointed to the board Benk Korthals, former justice secretary and defense secretary of the Netherlands, and Dick Bouma, a retired partner at Pels Rijcken Droogleever Fortuijn N.V., an expert on Dutch-style class actions and an experienced board member of claim foundations.
The Foundation provides a vehicle to litigate on behalf of Petrobras investors and/or to establish a binding settlement that, together with the US class action, provides for a truly global settlement. Additional goals of the collective litigation include increasing the level of influence of independent directors and safeguarding the interest of all stakeholders through improvement in compliance standards and control measures, to a level normally expected by international institutional investors. It is important that investors (a) who purchased common and preferred shares of Petrobras and/or bonds issued by Petrobras Global Finance B.V. or Petrobras International Finance Company S.A. anytime before July 28, 2015 and (b) suffered and/or are in danger of suffering (further) damages as a consequence of the alleged fraud, contact ISAF Petrobras so that it can determine eligibility to pursue claims in the Dutch court system. Eligible damaged investors can join the Foundation with no upfront cost or risk.