Skip to content
Subscriber Only

Petrobras Says It’s the Victim as Investor Bribery Suits Mount

Petroleo Brasileiro SA faces a mounting number of U.S. investor lawsuits that seek compensation for market losses tied to a multibillion-dollar bribery scheme.

Cases against the energy giant multiplied in recent weeks to more than a dozen, as investors from Ohio to Denmark seek damages for a kickback scandal that helped knock $60 billion off its stock value. As it nears an American court hearing on the fate of those claims, the Brazilian company has posited a novel defense: It’s a victim, too.