Petrobras faces "tens of billions of dollars" in claims in US court; trial opens in September

Petrobras faces “tens of billions of dollars” in claims in US court; trial opens in September

Monday, May 30th 2016 - 06:49 UTC

Full article 4 comments

Petrobras will finally get its day in a U.S. court on Sept. 19 in a trial that pits 18 former executives and 13 investment banks, including J.P. Morgan Securities, against U.S. and U.K. investors. Claimants are seeking “tens of billions of dollars” in losses from the Brazilian oil and gas giant. Read full article

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ChrisR
Well we all knew this was coming and it won't go away.

Let us not forget where the destruction in international investor confidence began: The Liar Mantega, Guido Mantega the finance minister of Brazil ALWAYS lied.

Every time he made a claim about performance and especially the level of inflation it turned out to be false yet DumbAss Dilma always took his side and refused to do anything about him.

That will not have escaped the US investigators!
May 30th, 2016 - 01:03 pm - Link - Report abuse 0
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chronic
Third world equity accounting is nothing but fantasy. China has the same problem with some of its biggest entities.
May 30th, 2016 - 01:17 pm - Link - Report abuse 0
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Conqueror
This is going to put the argie fraud into the classification of “peanuts”. Still, big, world-leading Latam country has gone for big, world-leading Latam fraud. What else would we expect?
May 30th, 2016 - 04:30 pm - Link - Report abuse 0
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chronic
It's obvious why a handful of countries have wealth and influence in inverse proportion to their size and resources.

Germany, the UK and Japan due it through structure and discipline.
May 30th, 2016 - 04:49 pm - Link - Report abuse 0
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