• Company
  • Description
  • Recovery Amount
  • Petróleo Brasileiro S.A.
  • Petrobras
  • Active

 

Brazil

G&E, along with three other U.S. and international law firms, represents more than 100 institutional investors alleging claims under Brazilian law in a case against Petróleo Brasileiro S.A. (“Petrobras”), a Brazilian oil and gas company and the largest corporation in Brazil in terms of revenue. Petrobras is involved in a major corruption and kickback scandal, which resulted in its common and preferred securities losing more than 60% of their value once the scandal became public. The case is proceeding in an arbitration in front of and under the rules of the Market Arbitration Chamber of the Brazilian Stock Exchange—the exclusive remedy for investors in Petrobras’ non-U.S. common and preferred stock.