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Glancy Prongay & Murray LLP Announces Investigation on Behalf of Petróleo Brasileiro S.A. Investors (PBR)

LOS ANGELES--(BUSINESS WIRE)--

Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Petróleo Brasileiro S.A. (“Petrobras” or the “Company”) (NYSE: PBR) investors concerning the Company and its officers’ possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

The investigation concerns whether the Company issued materially misleading business information to the investing public. On December 5, 2018, Reuters reported that Glencore and other trading firms paid over $30 million in bribes to employees of state-owned oil company Petrobras in a graft scheme. As part of the scheme, Petrobras employees offered the trading companies lower prices for oil, derivatives, and storage tanks, then shared in the savings. Specifically, top executives of the companies had “total and unequivocal” knowledge of the scheme. On this news, Petrobras’ share price fell, thereby injuring investors.

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If you purchased Petrobras securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181211005991/en/