SPCF
19.9.2018 17:13:10 CEST | Business Wire | Press release
On January 23, 2017, Stichting Petrobras Compensation Foundation (the “Foundation”) initiated an international collective action for Petrobras investors who purchased Petrobras securities outside of the United States and have suffered damages as a consequence of fraud that was uncovered by the “Lavo Jato” or “Operation Car Wash” investigations at the Brazilian petrochemical company that was once the 5th largest company in the world.
Petrobras has structured a significant part of its assets through the Netherlands and one of the entities issuing Petrobras securities (Petrobras Global Finance B.V.) is based in Rotterdam, the Netherlands. Moreover Petrobras is benefiting from the Dutch tax environment and Dutch investment protection treaties. Despite its strong nexus with the Dutch jurisdiction, Petrobras strongly contested the jurisdiction of the District Court in Rotterdam. Today the District Court in Rotterdam ruled in favor of the Foundation by accepting jurisdiction. Also the Court ruled that the arbitration clause in Petrobras’ Articles cannot preclude the Foundation from bringing a claim against Petrobras.
Earlier this year, Petrobras announced a US $3 billion settlement in the US, while leaving Petrobras investors who traded in Brazil or via linked markets in Europe empty-handed. The Dutch court accepting jurisdiction is a significant step forward in the Foundation’s pursuit of damages for the benefit of Petrobras investors.
The Foundation leading the litigation, has significant support from Institutional Investors from around the world including investors in the US, UK, Brazil, Netherlands, France, Germany, Spain, Italy, Nordic countries, South Korea, Japan and others. Individual institutional investor losses range in the millions, tens of millions and in some instances close to 100 million Euros.
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
Claims Analysis and Processing. Battea Class Action Services, LLC, an international leader class action securities claims filing, has been retained to collect client data and process and validate investor losses. More information about Battea can be found at www.battea.com
Stichting Petrobras Compensation Foundation - P.O. Box 8808 - 5605 LV Eindhoven - The Netherlands
View source version on businesswire.com: https://www.businesswire.com/news/home/20180919005525/en/
Contact:
MEDIA GENERAL & INVESTOR CONTACT: ISAF Management Adam Foulke, afoulke@isafmanagement.com Phone: +1 (203) 252-3378 or MEDIA LEGAL CONTACT: Lemstra Van der Korst N.V. Flip Wijers, f.wijers@lvdk.com / Martijn van Dam, m.vandam@lvdk.com / Jurjen Lemstra, j.lemstra@lvdk.com Phone: +31 (20) 2050567
About Business Wire
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
International Human Rights Lawyer Jared Genser and Former White House Counsel Lanny J. Davis Join Legal and Advocacy Team Supporting Cambodian Businessman Yim Leak, Seiden Law LLP Announces18.9.2026 19:52:00 CEST | Press release
Jared Genser, one of the world's most recognized international human rights lawyers, and Lanny J. Davis, an adviser to former presidents George W. Bush and Bill Clinton, join the legal and advocacy team for Cambodian businessman Yim Leak and challenge what they call a coordinated smear campaign in Thailand. International human rights lawyer Jared Genser and Lanny J. Davis, who has close ties to two former US presidents and a worldwide reputation for defending those under attack with lies and smears, and for repairing the damage done to their reputations, have joined the legal and advocacy team supporting Cambodian businessman Yim Leak, Seiden Law LLP, which serves as Yim Leak's chief global counsel, announced today. Their first move is to hold the Thai government accountable, framing its conduct as either complicit in or willfully blind to a sustained smear campaign against Yim. Genser is Managing Director of Perseus Strategies, an international law firm. Over more than two decades, he
Ningbo FEED Meeting Confirms Full Confidence in Q1 2027 FID for Allied Biofuels’ US$6.1 Billion Presidential Decree-Backed SAF and e-SAF Project18.9.2026 17:38:00 CEST | Press release
Allied Biofuels has held a major Front-End Engineering Design (FEED) meeting at Sinopec’s office in Ningbo, China, bringing together Allied Biofuels, Sinopec Engineering Group Co., Ltd. of China, Topsoe A/S of Denmark, Sasol South Africa Limited, and Plug Power of the United States — the principal international engineering and technology providers supporting its US$6.1 billion Presidential Decree-backed Sustainable Aviation Fuel (SAF) and e-SAF project in Uzbekistan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260918708077/en/ FEED Meeting - Ningbo, China At the joint FEED meeting of the project’s core engineering and technology stakeholders, the discussions established clear alignment on engineering responsibilities, technology interfaces, design deliverables, project integration and the coordinated execution programme required to advance the project through FEED. All stakeholders working on the project expressed full co
Corcept Announces CHMP Opinion Recommending EU Marketing Authorization for Lifyorli® (Relacorilant)18.9.2026 14:00:00 CEST | Press release
Corcept Therapeutics Incorporated (NASDAQ: CORT), a commercial-stage company engaged in the discovery and development of medications to treat severe endocrinologic, oncologic, metabolic and neurologic disorders by modulating the effects of the hormone cortisol, today announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) has recommended that the European Commission (EC) should approve relacorilant, combined with the chemotherapy drug nab-paclitaxel, for the treatment of patients with platinum-resistant ovarian cancer. The CHMP’s recommendation is based on positive data from Corcept’s Phase 2 and pivotal Phase 3 ROSELLA trials, in which patients receiving relacorilant combined with nab-paclitaxel experienced improved progression-free and overall survival compared to patients who received nab-paclitaxel alone. The safety profile of relacorilant plus nab-paclitaxel in these trials was consistent with the safety profile of nab-paclitaxel monoth
Enhertu® Recommended for Approval in the EU by CHMP as Adjuvant Treatment for Patients with Residual Disease After Neoadjuvant Treatment for HER2 Positive Early Breast Cancer18.9.2026 14:00:00 CEST | Press release
Recommendation based on DESTINY-Breast05 phase 3 trial results that showed Enhertu reduced the risk of invasive disease recurrence or death by 53% versus T-DM1 Daiichi Sankyo and AstraZeneca’s Enhertu has the potential to become a new standard of care in this early breast cancer setting Enhertu® (trastuzumab deruxtecan) has been recommended for approval in the European Union (EU) as a monotherapy for the adjuvant treatment of adult patients with resected HER2 positive breast cancer who have residual invasive disease after neoadjuvant taxane-based and HER2 targeted treatment. Enhertu is a specifically engineered HER2 directed DXd antibody drug conjugate (ADC) discovered by Daiichi Sankyo (TSE: 4568) and being jointly developed and commercialized by Daiichi Sankyo and AstraZeneca (LSE/STO/NYSE: AZN). The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) based its positive opinion on results from the DESTINY-Breast05 phase 3 trial presented at th
CHMP Recommends EU Approval of New Indication for Alfasigma’s Jyseleca® (filgotinib), Treatment of Adults With Axial Spondyloarthritis18.9.2026 12:58:00 CEST | Press release
The information contained within this press release is for the purpose of scientific exchange.It is intended for scientific, financial and investor media only.If approved, Jyselecawill be indicated for the treatment of patients with active axial spondyloarthritis (axSpA), both non-radiographic and radiographic forms of the disease, who have responded inadequately to conventional therapy.Despite the availability of multiple treatment options, nearly half of people living with axSpA do not respond adequately to current therapies, and just 10-20% reach inactive disease within 16-24 weeks of initiating treatment.CHMP’s positive opinion is based on findings from the OLINGUITO Phase 3 study, where improvements in the signs and symptoms of axSpA with filgotinib were observed early and maintained over 52 weeks of treatment.Jyselecais already approved in Europe and the United Kingdom, for the treatment of moderate to severe rheumatoid arthritis and ulcerative colitis. Alfasigma S.p.A, a global
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