RIO DE JANEIRO – 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 Wash, which prompted U.S. shareholders in thecompany to file the class action.
Reporting by Marta Nogeira; Writing by Reese Ewing; Editing by Paul Simao
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Source: www.reuters.com
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