A U.S. court temporarily suspended a class action case against Brazil’s state-run oil company Petroleo Brasileiro SA and extended the period for defining the terms of the case, a source with direct knowledge of the proceedings said on Tuesday. Petrobras, as the company is commonly known, is the center of a massive corruption investigation in Brazil known as Operation Car …
In the midst of Brazil’s worst recession in decades, lawyer Thiago Jabor Pinheiro switched firms to focus full-time on one of the only booming fields in the scandal-plagued country: compliance and corporate ethics. For Pinheiro, a massive corruption investigation unfolding at state-run oil firm Petrobras offers a golden opportunity. The scandal broke just as a tough new anti- …
PARIS A U.S. law firm has filed a class action lawsuit against Cnova, the e-commerce arm of French retailer Casino, alleging violations of securities laws in connection with its November 2014 initial public offering (IPO). The complaint filed by Glancy Prongay & Murray LLP on behalf of investors in a New York district court alleges Cnova failed to disclose its true situation in Brazil at the …