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Petrobras confirms shareholder suit

Petrobras on Tuesday acknowledged formal notification of a shareholder suit against it in New York alleging the company misled investors about a now-sprawling graft investigation.

A Brazilian flag is seen on the facade of the BM&FBOVESPA Stock Market during a ceremony marking the first day of trading at the BM&FBOVESPA Stock Market in Sao Paulo, Brazil, Friday, Sept. 24, 2010. Petroleo Brasileiro SA, or Petrobras, the South American nation's state-run energy company, raised $70 billion Thursday through the sale of more than 4 billion common and preferred shares in Brazil and the U.S., Investors saw an opportunity to invest in one of the world's fastest-growing regions for energy production. (AP Photo/Andre Penner)
A Brazilian flag is seen on the facade of the BM&FBOVESPA Stock Market during a ceremony marking the first day of trading at the BM&FBOVESPA Stock Market in Sao Paulo, Brazil, Friday, Sept. 24, 2010. Petroleo Brasileiro SA, or Petrobras, the South American nation's state-run energy company, raised $70 billion Thursday through the sale of more than 4 billion common and preferred shares in Brazil and the U.S., Investors saw an opportunity to invest in one of the world's fastest-growing regions for energy production. (AP Photo/Andre Penner)
Published 10 December 2014, 00:09Updated 11 October 2016, 15:13