Investors Seek Ruling Against Petrobras in Corruption Lawsuit

Petrobras, whose formal name is Petroleo Brasileiro SA, and its attorneys did not immediately respond to requests for comment. But the company has claimed it was a victim of a fraud orchestrated by a handful of executives, outside contractors and politicians.┬áProsecutors in Brazil have said more than $2 billion of bribes were paid over a decade to Petrobras executives by construction and engineering companies to win lucrative contracts. The scandal, which has engulfed Brazil’s political class, has contributed to a plunge in the oil company’s market value.

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