Valor Economico reported on Friday that the Batista company formerly known as OGX, now known as OGPar, waited at least 10 months to inform shareholders that four oilfields it was exploring were not commercially viable.
During that time Batista sold shares of the company and sister shipbuilding outfit OSX, Valor reported, citing documents from the regulator known as CVM.
Batista also encouraged investors to buy more stock in his companies and touted the oilfields' potential, the newspaper reported.
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