Brazil: Brazil’s state-owned oil company, Petrobras, has announced that it has reached an agreement to compensate its US shareholders with US$2.95bn. The arrangement, approved by a New York Federal Court, is to settle a class-action lawsuit filed by US investors who suffered economic damages as a result of the firm’s implication in the ‘Car Wash’ corruption case. The firm clarified that the payment of compensation did not mean an admission of guilt. The agreement had been signed in January, but it was approved on 22 June by the US federal court.
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