Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Petróleo Brasileiro S.A. (NYSE: PBR) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Petróleo Brasileiro S.A. (NYSE: PBR) concerning whether a series of statements by Petróleo Brasileiro S.A. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On December 5, 2018, an article published by Reuters revealed how Glencore and other trading firms paid $30+ million in bribes to Petrobras employees in a possibly ongoing scheme. As part of the scheme, Petrobras employees gave the trading companies lower prices on oil, derivatives, and storage tanks, then shared in the savings. Furthermore, according to the article Petrobras top executives had “total and unequivocal” knowledge of the graft scheme.
On this news, NYSE: PBR fell during intraday trading on December 6, 2018.
Based in Rio de Janeiro, Brazil, and founded in 1953 Petróleo Brasileiro S.A. operates in the oil, natural gas, and energy industries.
If you purchased shares of Petróleo Brasileiro S.A. (NYSE: PBR) on or before December 5, 2018, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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