Brazil Oil Giant Faces $98bn Shareholder Lawsuit in U.S. Over Corruption Scheme

A US judge has told Petrobras bosses to prepare for a $98bn lawsuit over allegations that executives at the Brazilian oil company and senior politicians were involved in a huge money-laundering and corruption scheme dubbed “Operation Carwash”.
US district judge Jed Rakoff on Friday threw out Petrobras’s efforts to get the case dismissed and told the company and investors who are bringing the class action lawsuit to prepare for trial as soon as February 2016. Senior executives and Brazilian politicians are likely to be called to appear before the New York court, if the case gets the final go-ahead.



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