Business Wire

CT-ISAF

19.9.2018 14:19:05 CEST | Business Wire | Press release

Share
Dutch Shareholder Foundation Achieves Significant Victory For Petrobras Investors With Billions In Losses In European Securities Fraud Litigation

International Securities Associations & Foundations Management Company (ISAF)

Today the District Court in Rotterdam has ruled in favor of Stichting Petrobras Compensation Foundation (SPCF or Foundation) regarding arguments to establish jurisdiction in the Netherlands for eligible Petrobras investors seeking compensation for losses related to the “Lavo Jato” or “Operation Car Wash” scandal. Also the Court ruled that the arbitration clause in Petrobras’ Articles cannot preclude the SPCF from bringing a claim against Petrobras on behalf of aggrieved Petrobras shareholders.

ISAF congratulates SPCF on this important legal decision and reminds investors that losses from investments in primary shares of Petrobras traded in Brazil on the Brasil Bolsa Balcão S.A. or B3 - Brazil (formerly BM&FBOVESPA) and via linked markets in Europe and also Bonds bought outside the US, will not be compensated under the US $3 billion settlement in the US.

Robert Frome, Chairman of ISAF, commented: “The ruling affirms that Petrobras investors, who were caught by surprise when revelations of corruption and fraud emerged in 2014, will be heard in a legal forum in the Netherlands which has previously dealt with complex collective shareholder litigations.” Frome continued: “The ruling in Rotterdam should be encouraging to investors, who originally believed that their recovery options were limited to arbitration in Brazil, and were thus rightly discouraged by the probable unfavorable outcome for investors in a ‘home court’ jurisdiction for Petrobras.”

Investors who have not already registered claims in the Netherlands are encouraged to contact ISAF now that this critical ruling on jurisdiction has been achieved. Petrobras investors who considered arbitration in Brazil should contact ISAF to register a claim in the Netherlands.

Media Information

More information about the litigation can be found at www.pbcompensation.com . SPCF appointed International Securities Associations & Foundations Management Company (ISAF) to coordinate all administration with investors, including funding of all litigation costs so investors can participate on a contingency only basis with no upfront cost. More information about ISAF can be found at www.isafmanagement.com

Contact:

MEDIA GENERAL & INVESTORS: ISAF Management Adam Foulke, +1-203-252-3378 afoulke@isafmanagement.com or MEDIA LEGAL: Lemstra Van der Korst N.V. Flip Wijers, Martijn van Dam & Jurjen Lemstra, +31 (20) 2050567 f.wijers@lvdk.com , m.vandam@lvdk.com , j.lemstra@lvdk.com

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

FPT Achieves HITRUST r2 v11.5.1 Certification, Demonstrating the Highest Level of Information Protection Assurance10.2.2026 03:00:00 CET | Press release

FPT, a leading global IT company, announced its in-scope platforms and facilities of FPT Data Center have earned certified status from HITRUST for cybersecurity and information protection. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260209729954/en/ The scope of the HITRUST r2 v11.5.1 certification includes FPT’s Application Services System, Database System, and Deployment System, all hosted and managed within the FPT Data Center in Hanoi, Vietnam, as well as the data center facility itself. The HITRUST Certification demonstrates that FPT has met requirements defined by leading cybersecurity and regulatory frameworks, confirming that strong controls are in place to protect sensitive data and manage risk effectively. The certification also includes the HITRUST AI Security Certification, which validates that the organization’s AI systems are safeguarded against AI-specific threats such as data poisoning, model inversion, an

SheltonAI Announces Global Expansion, Senior Leadership Appointments, and Accelerated Growth9.2.2026 23:04:00 CET | Press release

SheltonAI, the institutional AI platform for valuation, announced senior executive appointments, major global expansion, and strong growth momentum entering 2026. SheltonAI announced several senior leadership appointments, including: Stephen Can, CSO, previously Executive Chairman & Founder of Blackstone Strategic Partners Peter Song, COO, previously COO of Blackstone Strategic Partners Chris Cooper, CFO, previously Global CFO at Sequoia, SoftBank, & Clearlake Capital Paige Shiring, has been promoted to Director, previously with Thoma Bravo 2026 NY Analyst Class & 10+ Hires in January SheltonAI also plans to open several regional HQs in 2026, including: New YorkSydneyGCC Region, with office lead to be announced later in Feb 2026 The company reported significant momentum entering the year, including 10+ new hires in January and over $1 trillion in incremental assets supported by the platform during the month, driven by new client deployments and expanded mandates. SheltonAI’s platform p

Xsolla to Showcase New Brand With All the Things for Developers to Go Direct-to-Consumer at DICE Summit 2026, Empowering Developers to Launch, Grow, and Win9.2.2026 22:00:00 CET | Press release

Global Video Game Commerce Leader Returns to Premier Industry Event with Comprehensive Platform Supporting 700+ Web Shops and 1,000+ Payment Methods Across 200+ Geographies Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today announced its participation in the DICE (Design, Innovate, Communicate, Entertain) Summit 2026, taking place February 10-12 at the ARIA Resort & Casino in Las Vegas. As the industry's premier gathering of creative minds and thought leaders dedicated to community building and advancing interactive entertainment, DICE Summit provides the ideal venue for Xsolla to collaborate and showcase how its comprehensive platform delivers everything developers need to power video game commerce and build successful direct-to-consumer businesses. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260209768772/en/ (Graphic: Xsolla) DICE Summit brings together indus

Xsolla Brings Mobile-First Monetization Expertise to Gamesforum Barcelona 2026, Where Europe's Mobile Gaming Leaders Gather to Solve the Industry's Toughest Growth Challenges9.2.2026 20:30:00 CET | Press release

Platform That Powers 1,500+ Game Developers Across 200+ Geographies Expands Commerce, Payment, and Distribution Infrastructure to Adjacent Creative Industries Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today announced its participation in Gamesforum Barcelona 2026, taking place Feb.10-11 at the InterContinental Hotel in Barcelona. This event brings together Europe's sharpest minds in mobile gaming for practical, data-driven sessions focused on what actually works in today's hypercompetitive mobile landscape. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260209301026/en/ (Graphic: Xsolla) With over 600 professionals from Europe's top publishers, ad networks, and studios in attendance, Gamesforum Barcelona has earned its reputation as the place where mobile gaming's most pressing problems get solved: How do you scale profitably? How do you retain players in satur

Beast Industries Acquires Step, Expanding its Platform to Include Financial Services9.2.2026 18:30:00 CET | Press release

This strategic acquisition brings innovative fintech capabilities to Beast Industries’ growing global platform, combining technology, content, and purpose to redefine financial services for the next generation Beast Industries, the largest and most innovative creator based platform in the world, today announced the acquisition of Step, a financial technology company dedicated to making financial literacy and money management accessible to all. This acquisition marks a significant milestone for Beast Industries, bringing together Step's robust technology platform and full-stack fintech team with Beast Industries’ extensive audience reach and proven track record in philanthropic initiatives. Together, the combined organization will deliver innovative solutions that make financial wellness achievable for people at every step of their life journey. "Financial health is fundamental to overall wellbeing, yet too many people lack access to the tools and knowledge they need to build financial

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye