Alva Review-Courier -

Petrobras agrees to pay $2.95B to settle case in the US

 

January 4, 2018



RIO DE JANEIRO (AP) — Brazil's state-run oil giant Petrobras has agreed to pay $2.95 billion to settle lawsuits in the United States over the sprawling corruption scandal that has ensnared dozens of officials and business executives across Latin America.

The company said in a statement on Wednesday that the deal ends a legal battle with investors who allegedly suffered losses after a corruption probe exposed mushrooming corruption in the company.

Petrobras also says it was a victim of the corruption scheme and that the "the agreement does not constitute any admission of wrongdoing or misc...



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