MercoPress. South Atlantic News Agency
Petrobras bribery case reaches US courts on investors' class action lawsuit
Brazil's state-run oil company Petrobras urged a U.S. judge on Thursday to throw out an investors' class action lawsuit claiming a multibillion-dollar bribery scandal overvalued it for years. Speaking at a hearing in federal court in New York, Petrobras lawyer Roger Cooper said the company itself was a victim of the fraud, which he said was orchestrated by a handful of individuals. Read full article
Comments
Disclaimer & comment rulesAt this rate, Petrobas will be wiped out.
Jun 26th, 2015 - 08:21 am - Link - Report abuse 0A national champion turned into an international midget.
“ the company was unaware of the alleged fraud”, now have I got this wrong, but how can a “ company ” be aware of anything? Surely it is the executives that run the “ company” that are culpable. What is a “company” anyway? It cannot do anything on its own. It is an inanimate entity.
Jun 26th, 2015 - 08:34 am - Link - Report abuse 0@2. You're right. You've got it wrong. A company is a legal entity. It is, in law, a “person”. Read the newspapers. How many times have you seen an article that says “The company said......” What does a “company” consist of? A board of directors, some of whom may not be able to vote. The “officers” of the company. Possibly not entitled to vote. The shareholders. Who's culpable? Suppose you list Mr Bloggs. But Mr Bloggs, in a secret ballot, says he didn't vote. Now what?
Jun 26th, 2015 - 10:54 am - Link - Report abuse 0Dilma and Lula won't be able to hide from the US courts.
Jun 26th, 2015 - 11:04 am - Link - Report abuse 0This should be fun to watch
PBR may not survive as a public company over this scandal.
1.
Jun 26th, 2015 - 11:18 am - Link - Report abuse 0International midget? This midget is the largest producer of oil and gas between companies of open capital of the world.
This midget sits on 100 billion barrels of oil.
This midget is world champion in deepwater drilling.
This midget is the largest distributor of the world fuels.
This midget in a few years will become the world's largest oil company.
This midget keeps buying rigs, platforms, supertankers in Brazil, generating jobs and income for Brazilians.
Now GIANT it is the wish of the “Five Eyes” have to see Petrobras sink for them to buy very cheap.
But as I said several times in this forum, it is easier an elephant go through a pinhole, than a company of the “Five Eyes” succeed in the Brazilian market. You are too incompetent!
https://www.youtube.com/watch?v=dJMlsTw2BU4
Do not worry. If we need to sell Petrobras, we sell to Russian or Chinese. Never to Western!
Petrobras, after discovering over 100 billion barrels of offshore petroleum is nearly bankrupt. How could this be? Now entering the discussion is Eletrobras and others... Who has been running the country for the past 13 years?
Jun 26th, 2015 - 11:26 am - Link - Report abuse 0The Worker's Party is thriving to massively steal just about everything.
PBR isn't even in the top 10 of oil companies by production and by Market cap it ranks below some privately held oil companies.
Jun 26th, 2015 - 12:14 pm - Link - Report abuse 0Bras/Toby as I have said before your education is an embarrassment.
I must admit that when this first started unravelling in the manner it has I wondered if other state owned companies were going to be exposed in a similar manner. It seems so.
Jun 26th, 2015 - 12:22 pm - Link - Report abuse 0Is there nothing in Brazil that the PT have NOT had a piece of?
Brasso: get real you stupid, stupid person.
If Petrobras thought they were in trouble before they most certainly are now with the US courts becoming actively involved.
I cannot see how, with the investigation growing like Topsy, the judge can throw out the claim.
The problem for Dilma and Lula is that the US Courts don't care if they get exposed.
Jun 26th, 2015 - 12:31 pm - Link - Report abuse 0And they will
No way have they not been involved.
Follow the $
Bras/Toby is very very dumb but that's how these regimes, Ven Arg Bras keep in power. Keep them dumb.
I think they all drink poisoned water.
Its really the only thing I can come up with...
Pygmy then.
Jun 26th, 2015 - 12:39 pm - Link - Report abuse 0@5. Shut up. What happens when Brazil rises to the sky on the explosion of its “resources”? Just imagine 10 nuclear missiles diving into every Brazilian oil well. Brazil dies! Bring it on.
Jun 26th, 2015 - 07:35 pm - Link - Report abuse 011. hahaha
Jun 26th, 2015 - 07:55 pm - Link - Report abuse 0As you will be able to explode bombs in Brazil? BRICS has the best anti-missile shield of the planet, also our navy would not leave the navy from five eyes get close to Brazil.
Nothing would be left on these islands.
https://www.youtube.com/watch?v=FaKcX7XCmgQ&list=FLmXPTu1f8AdGlizWNiASx2A&index=4
Brazil isn't battle tested. Has no idea how to fight.
Jun 26th, 2015 - 08:09 pm - Link - Report abuse 0You'd lose against any major world power.
Quickly.
And nobody is going to come to your rescue.
The BRICS are united. Before any conflict begins, they will already be here ready to defend America and invade North America.
Jun 26th, 2015 - 08:21 pm - Link - Report abuse 0Be sure about it.
https://www.youtube.com/watch?v=zpP8RfGYybg&list=FLmXPTu1f8AdGlizWNiASx2A&index=11
yeah okay, China is going to invade its largest client? How are they going to get troops across the Pacific? Swim?
Jun 26th, 2015 - 08:47 pm - Link - Report abuse 0Silly child you are an embarrassment to yourself and the country you pretend to be from.
I said that before the beginning of the conflict, all the BRICS would already be here.
Jun 26th, 2015 - 09:04 pm - Link - Report abuse 0And we Brazilians would not let them to travel across the Pacific. China would the Indian Ocean and Africa to protect Chinese armed. Russia would the North Sea protected by Germany, Spain and Portugal.
https://www.youtube.com/watch?v=UfRSe_ANfcU&index=141&list=FLmXPTu1f8AdGlizWNiASx2A
#16
Jun 26th, 2015 - 09:23 pm - Link - Report abuse 0You have been sniffing too much glue again.
http://youtu.be/imSUHGm9i2g
Early reports have confirmed over 20 BILLION was stolen, but in the Wall Street Journal they think the number will be well above THREE TIMES that amount!
@ 15 yankeeboy
Jun 26th, 2015 - 09:43 pm - Link - Report abuse 0Have you seen the news from China?
http://www.telegraph.co.uk/finance/11700400/China-shares-tank-ending-nations-longest-ever-bull-market.html
It seems that the government aren't moving their position to help: YET.
Could be the thin end of the wedge!
The world is ready to fuck you and you getting ready to speculate!
Jun 26th, 2015 - 10:17 pm - Link - Report abuse 0Idiot.
18. As I've been saying China is done. Their banks are bankrupt and the gov't doesn't have near enough $ to fix them. If they had to report like regular companies/banks/gov't did in the USA UK EU they'd be shown to be frauds and all bankrupt. But they don't so who knows when it will all really go.
Jun 26th, 2015 - 11:01 pm - Link - Report abuse 0But its soon now.
They will never make it into a rich country.
Did you know they have 30MM people who still live in caves?
Fascinating and horrible place.
When is this BRICS world take over support to happen?
Jun 27th, 2015 - 04:09 am - Link - Report abuse 0Has it started? Will it ever start? So far it is all talk and no action as befits a group named after term invented in New York by a westerner for investment purposes.
Brasileiro
Jun 27th, 2015 - 11:04 am - Link - Report abuse 0Your Russian BRICS friends seem a bit negative of Petrobras:
(Pravda) Moscow -- When Brazil emerged from the global financial crisis as one of the world’s great rising powers, Petrobras was the symbol of that growing economic might of BRICS companies ready to lead our economic group to success.
The Brazilian state-run oil giant was embarking on a $220 billion investment plan to develop the largest offshore crude discovery in the Western hemisphere since 1976 and was, in the words of then-President Luiz Inacio Lula da Silva, the face of “the new Brazil.”
Today the company epitomizes everything that is wrong with a Brazilian economy that has been sputtering for the better part of four years: It’s mired in a massive corruption scandal that cost the CEO her job this week; it has failed to meet growth targets year after year; and it’s saddling investors with spectacular losses. Once worth $310 billion at its peak in 2008, a valuation that made it the world’s fifth-largest company, Petroleo Brasileiro SA is today worth just $18 billion due to wide scale plundering of the company's revenues back to the ruling Worker's Party.
While Brazil’s decline on the international stage has been playing out since the commodities-driven economic boom first began to fizzle in 2011, the corruption case pointed directly at the leadership of both Lula and Dilma of Petrobras deepens the growing sense of crisis in the South American country. The government is posting record budget deficits after a collapse in prices for the soy, oil and iron that the nation exports; Sao Paulo is running out of water amid the biggest drought in decades; and the real dropped the most among major currencies in the past six months.
China just announced its lowering interest rates again.
Jun 27th, 2015 - 11:36 am - Link - Report abuse 0I have to do it
Told ya...
The Brazil and Angola are already closing oil sales contracts in Yuans. I think the Nazi-Americans will deport Dilma when she arrive there.
Jun 27th, 2015 - 04:01 pm - Link - Report abuse 0BRASILEIRO
Jun 27th, 2015 - 04:16 pm - Link - Report abuse 0Dilma will be hosted as the guest of honor at the White House in Washington DC with a state dinner honoring Brazil.
Dilma needs financing and she's borrowing funds from Angola, China and USA because the Worker's Party plundered state funds, estimated by Forbes as over 50 BILLION Dollars a year.
50 billion? Petrobras recorded 6 billion in corruption. Maybe that Forbes has a stake of Chevron or Exxon that are super interested in a collapse of Petrobras.
Jun 27th, 2015 - 04:29 pm - Link - Report abuse 0Our paths are diametrically opposed!
https://www.youtube.com/watch?v=PsoMIe3IDcM&list=FLmXPTu1f8AdGlizWNiASx2A
Brazil boy
Jun 27th, 2015 - 05:47 pm - Link - Report abuse 0The theft in Petrobras is far higher than 6 BILLION, but the over FIFTY BILLION STOLEN is for every aspect of the Brazilian economy, not just from Petrobras that was valued at 310 billion in 2008 and now is estimated to have a net worth of about 18 billion. How can that be? Because the oil company took out large loans to develop the discoveries, skimmed off part of the money as kickbacks to the Worker's Party and when they sold the resulting petroleum production, they again skimmed off part of the sales to kick back to the Worker's Party one more time. The other form of theft, was to hire politicians and cronies of the Worker's Party with outrageous salaries to head positions that required only a few hours of their attendance. Petrobras + Worker's Party = corruption and billions of dollars in theft
Chicureo if you want to talk I can. If you want war, I win!
Jun 27th, 2015 - 06:07 pm - Link - Report abuse 0I already told you know all the ways of geopolitics. But you continue to eat lies from the coup press and belching shit up my nose!
See this vídeo...
https://www.youtube.com/watch?v=Zps5e3MQVnU&list=FLmXPTu1f8AdGlizWNiASx2A&index=4
Viva a Rússia!
B R A S I L I D I O T
Jun 27th, 2015 - 07:25 pm - Link - Report abuse 0(WORKER'S PARTY LULA ZOMBIE )
Here you go again, speaking from your arse about issues that you are incapable of understanding including geopolitics. Obviously you have not a shred of knowledge regarding economics, or even a partial grasp of understanding the rape your politicians have committed to your country.
Also, stop the pathetic repetitive moronic claims that your beloved BRICS are going to save your country from not going off into a deep recession.
I'd rather die than accept the Saxon presence in my America.
Jun 27th, 2015 - 08:08 pm - Link - Report abuse 0Then die!
Jun 27th, 2015 - 11:30 pm - Link - Report abuse 0Go and die Brasileiro, do us all a favor!
Jun 28th, 2015 - 03:22 am - Link - Report abuse 0@12, 14, 16, 19, 24, 26, 28, 30.
Jun 28th, 2015 - 02:37 pm - Link - Report abuse 0Supporting one's country has to be admired. So I'll go easy on you. It would be so easy to just mock. Here's an article;
https://en.wikipedia.org/wiki/Missile_defense_systems_of_various_nations
I don't see Brazil mentioned. Perhaps yoy think that Russia, India and China are going to rush missile defence systems to you. India is the closest. It just needs to cross the Indian Ocean and South Atlantic. China needs to cross much more. And Russia is about as far away as you can get. It wasn't long ago that the Royal Navy stopped a Russian ship believed to be transporting S-300 systems. Your idea that a Russian ship would be protected by Germany, Spain and Portugal is just laughable. All members of NATO remember. Every NATO navy and air force would be out in force. Not to stop, but to sink. Why don't you take a few hours to count up the total strength of NATO navies? Just to start with, in the north, there would be the Canadian, UK and US navies. In the south you have the Australian, New Zealand, UK and US navies. Oh, and the US divides its naval forces into fleets. Each fleet is probably larger than Brazil's entire navy. Perhaps you don't understand that the UK and US navies could attack from a distance of 7,000 miles. Just how long do you think it would take for RICS to get to B? Two weeks? Three? A month? By which time, it would be all over. Think back to 1982. Add in a few features we didn't have back then. Royal Navy submarines firing cruise missiles, unseen, from beneath the sea. Royal Air Force aircraft firing air-launched cruise missiles. Tanker/transport aircraft able to carry troops and equipment AND refuel other aircraft. Get the picture?
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