Update related to the Class Action in the United States

Rio de Janeiro, June 15, 2016 – Petrobras informs that the United States Court of Appeals for the Second Circuit issued an order today granting Petrobras’s petition to permit an appeal from the order of the District Court in which the District Court certified classes in the securities litigation.

The District Court’s order was disclosed in a Petrobras press release dated February 3, 2016.

The Court of Appeals is expected to review whether it was appropriate for the District Court to certify classes of securities purchasers.  The Court of Appeals did not provide any indication of the date by which it will render a decision on the appeal.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by WordPress.com.

Up ↑

%d bloggers like this: