The chief executive of Brazil’s state-run oil company Petrobras, Pedro Parente, said on Monday that four settlements reached with investors late last week were not part of provisions for other ongoing lawsuits including a class action case.
The settlements include lawsuits led by Allianz SE’s Pimco Total Return Fund, Dodge & Cox International Stock Fund, Janus Overseas Fund and Al Shams Investments, which accuse Petrobras of covering up a sweeping graft scheme and publishing misleading accounts.
Parente said he expects to settle more lawsuits going forward.
(Reporting by Jeb Blount; Writing by Reese Ewing; Editing by Andrew Hay)
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