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Brazil's state-run oil Petrobras settles four more lawsuits with investors in the U.S.



Petroleumworld.com 02 27 2017

Brazil's state-run oil company Petróleo Brasileiro SA, or Petrobras, said on Friday its board has approved settlements with investors in four more lawsuits in a U.S. federal court in New York.

In a securities filing, Petrobras said the new settlements would raise total provisions for the lawsuits to $372 million in the fourth quarter, $8 million above the quarter ended in September. The company is settling with New York City Employees Retirement System, Transamerica Income Shares, Internationale Kapitalanlagegesellschaft mbH and Lord Abbett Investment Trust.

Reporting by Marcelo Teixeira; Editing by Jonathan Oatis from Reuters .

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