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
Duna, Built by Stripe Veterans, Raises €30 Million CapitalG-led Series A to Solve Business Identity For The Internet5.2.2026 15:00:00 CET | Press release
Duna, the identity fintech founded by two Stripe alumni, today announced a €30 million Series A funding round led by CapitalG, Alphabet’s independent growth fund. Existing investors Index Ventures, Puzzle Ventures and Snowflake Chairman Frank Slootman also participated in the round. The company, based in Germany and the Netherlands, was launched in 2023 by Duco van Lanschot, who was head of Benelux and DACH at Stripe for three years, and David Schreiber, who spent six years at Stripe where he ran the company’s largest global business unit, including the core card payment platform. In May 2025, the company announced a €10.7 million seed round led by Index Ventures. The latest fundraise brings Duna’s total funding to more than €40 million. Duna’s mission is to build global trust infrastructure by providing a digital passport for every business. Over time, this will evolve into a network for shareable identity and one-click onboarding. Today Duna’s AI-native business identity platform ser
AI-Powered Experian Assistant for Model Risk Management Wins 2026 BIG Innovation Award5.2.2026 15:00:00 CET | Press release
Highlights how Experian’s AI capabilities help global financial institutions keep regulatory documentation aligned with rapid model innovations Experian today announced that its recently launched, AI‑powered Experian Assistant for Model Risk Management has been awarded the 2026 BIG Innovation Award in the Innovative Products category. Recognizing trailblazers across industries since 2014, this global award celebrates exceptional innovation and the value it brings to a recipient’s clients, stakeholders and community. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260205042051/en/ Experian's recently launched, AI-powered Experian Assistant for Model Risk Management has been awarded the 2026 BIG Innovation Award in the Innovative Products category. Fully integrated into the Experian Ascend Platform™ and powered by ValidMind technology, Experian Assistant for Model Risk Management helps accelerate model validation, improve audit
LTIMindtree Recognized as a Leader in Everest Group Payments IT Services PEAK Matrix® Assessment 20255.2.2026 14:30:00 CET | Press release
LTIMindtree [NSE: LTIM, BSE: 540005], a leading global technology consulting and digital solutions provider, has been positioned as a Leader in the Everest Group Payments IT Services PEAK Matrix® Assessment 2025. This recognition is for being a strategic transformation partner that combines modernization scale, platform alliances, and innovation across real-time, digital assets, and ensure secure, regulator-ready payment environments. Everest Group highlighted LTIMindtree’s strong market impact and vision and capability in delivering largescale payments across issuers, acquirers, payment processors, card networks, and FinTechs. The assessment comes at a time when enterprises are rapidly modernizing legacy payments platforms to support real-time, cross-border, and ISO 20022 compliant payment environments, while enhancing resiliency, interoperability, and regulatory compliance. LTIMindtree stands out for its product engineering expertise across major payment platforms like Finastra GPP/P
PubNub Achieves SOC 3 Compliance, Reinforcing Commitment to Security, Trust, and Transparency5.2.2026 14:00:00 CET | Press release
PubNub, the real-time communications platform that powers low-latency, event-driven logic across modern application architectures, is pleased to announce that it has achieved SOC 3 compliance. This latest attestation highlights PubNub’s continuous dedication to providing a secure and trusted platform for building and scaling interactive online experiences. The SOC 3 report affirms that PubNub’s systems meet the Trust Services Criteria for security, availability, and confidentiality. Unlike SOC 2 reports, which are restricted to existing customers or partners due to the level of operational detail they include, SOC 3 reports are designed for broad, public distribution. This transparency enables anyone to verify that PubNub adheres to the stringent controls required by the SOC 2 framework, providing proof of robust information security and operational integrity. This achievement adds to PubNub’s extensive compliance portfolio, which includes SOC 2 Type 2, ISO/IEC 27001:2022, HIPAA, and G
Visby Medical Collaborates with Watchmaker Genomics to Enhance Respiratory Pathogen Detection in the At-Home Setting5.2.2026 14:00:00 CET | Press release
Visby Medical, a leading innovator in at-home PCR testing of infectious diseases, has announced a strategic collaboration with Watchmaker Genomics, a supplier of innovative products for molecular analysis, to develop next-generation diagnostic tests for respiratory pathogen detection in the at-home setting. This partnership pairs Visby Medical’s instrument-free PCR testing technology – the first and only of its kind – with Watchmaker’s expertise in engineering enzymes to address application-specific performance gaps. Clinical samples collected from patients for at-home testing are typically unprocessed, making them vulnerable to molecular inhibitors that can reduce signal strength and lower assay sensitivity. The need for rapid results in the at-home setting also places unique performance demands on the assays and the enzymes they rely on. “Recent increases in COVID cases involving new strains and the current flu season highlight the need for tests that are reliable and fast,” explaine
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