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
From Network Automation to Agentic NetOps: NetBrain Sets the Standard for Deploying AI in Network Operations29.5.2026 15:00:00 CEST | Press release
Newest expansion of the NetBrain platform delivers Agent Skills, AI Path Doctor, MCP Server, and expanded cross-domain integrations, extending the agentic capabilities already running in production at hundreds of enterprises. NetBrain Technologies, Inc. today announced major new platform features that advance Agentic NetOps from an emerging category to operational reality. NetBrain's clients are already deploying agents that are diagnosing and remediating issues across complex multi-vendor enterprise networks. These new features further extend the platform with new agent tooling, cross-domain context, and open interfaces for the broader agentic enterprise. Early customer outcomes show the magnitude of the shift: A leading health insurer used NetBrain's Deep Diagnosis agent to diagnose and resolve a weeks old VPN connectivity issue in under five minutes. A large manufacturer resolved a critical device issue with a single prompt, isolating the root cause across the network path in under
Adtran resolves long-running patent litigation, reinforcing commitment to defend innovation29.5.2026 14:00:00 CEST | Press release
News summary: Non-practicing entity litigation continues to create costly, time-consuming pressure across the technology industry Adtran has reached a full settlement following counterclaims, with payment made to Adtran and all claims dismissed with prejudice Outcome reflects Adtran’s commitment to defend its innovations, customers and business against meritless patent assertions Adtran today announced it has resolved a patent litigation matter, resulting in a full settlement and dismissal of all claims with prejudice. The case, initiated in 2020 by a non-practicing entity asserting five patents, was transferred to the US District Court for the Northern District of Alabama in 2021 following a successful motion by Adtran. Adtran subsequently filed counterclaims, including bad-faith patent assertion under Alabama statutory law. The settlement includes payment to Adtran to resolve its counterclaims. Terms of the agreement remain confidential. “This outcome reflects a disciplined and consi
Meiji Seika Pharma Invests in GHIC’s Global Health Security Fund29.5.2026 13:00:00 CEST | Press release
Meiji Seika Pharma Co., Ltd. (Headquarters: Tokyo, Japan; President and Representative Director: Toshiaki Nagasato) today announced that it has committed to invest in the Global Health Security Fund (GHSF), which is sponsored by Global Health Investment Corporation (GHIC), a New York-based nonprofit organization. Through this investment, Meiji Seika Pharma will support the acceleration of innovations addressing critical global health challenges, including pandemic preparedness and antimicrobial resistance (AMR). GHIC is a mission‑driven nonprofit organization that deploys private investment strategies to generate both global health impact and financial returns. GHIC recently closed its second fund in GHSF. With more than a decade of experience investing in the field of infectious disease, GHIC has contributed to addressing major global health challenges. Its portfolio companies have successfully commercialized more than a dozen products, collectively reaching over 600 million people wo
IFF Enters Into Agreement to Sell Its Food Ingredients Business to CVC29.5.2026 12:50:00 CEST | Press release
Transaction advances portfolio transformation, sharpens focus on higher-growth, higher-margin businesses, strengthens balance sheet, and enhances value creation for shareholders IFF (NYSE: IFF), a global leader in flavors, fragrances, food ingredients, and health and biosciences, today announced that it has entered into an agreement to sell its Food Ingredients business to funds advised by CVC Capital Partners, a leading global private markets manager, in a transaction that values the business at approximately $4.3 billion, representing an enterprise value-to-EBITDA multiple of approximately 10x. As part of the transaction, IFF has chosen to retain an approximately 10% minority equity interest in the business, or approximately $200 million, permitting continued collaboration and cooperation between IFF and Food Ingredients and allowing IFF and its shareholders to participate in future value creation under its new ownership. The transaction marks a significant step in IFF’s portfolio tr
BeOne Medicines Establishes Standard for Long-Term Disease Control in CLL with BRUKINSA 78-Month Data at ASCO 202629.5.2026 12:00:00 CEST | Press release
Data represents the longest reported follow-up for a next-generation BTK inhibitor in CLL, showing sustained disease control and benefit that extends beyond first-line therapyBRUKINSA plus next-generation BCL2 inhibitor sonrotoclax (ZS) delivered deep, durable, and rapid uMRD responses, raising the bar for potential time-limited treatments in CLLData reinforce BeOne’s leadership in CLL and the strength of its foundational hematology franchise BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, is advancing the treatment paradigm in chronic lymphocytic leukemia (CLL) at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting. With extensive long-term follow-up, the SEQUOIA study of BRUKINSA® (zanubrutinib) reinforces its role as the foundational BTK inhibitor, showing sustained disease control over years of therapy. These findings are further supported by real-world evidence across three large analyses encompassing more than 250,000 pati
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