Brazil's Petrobras to settle US class action lawsuit over corruption

CNBC | on Wed, Jan 3, 5:37 AM

Ueslei Marcelino | Reuters A worker paints a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil September 30, 2015. Brazil's state-controlled oil company, Petroleo Brasileiro, said on Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors who claim they lost money as a result of a corruption scandal. Petrobras, as the company is known, denied any wrongdoing under the deal, which is one of the largest securities class action settl...

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