(Aaron Simonsky, Energy Analytics Institute, 9.Jan.2025) — A final favorable arbitration award has been handed down in 1 of the arbitrations taking place before B3‘s Market Arbitration Chamber (CAM).
This arbitration was initiated by several foreign investors who acquired Petrobras shares traded on B3, alleging financial losses caused by informational failures, the state-owned company said 9 Jan. 2025 in an official statement.
“The ruling dismissed the claim, among other reasons, on the grounds that, under Brazilian law, investors cannot bring an action for compensation against the company for indirect damages, such as those related to the devaluation of the value of shares,” Petrobras said in the statement. “This arbitration is confidential, as are the others in progress.”
Rio de Janeiro-based Petrobras will continue to defend itself vigorously, in respect for its shareholders, in all arbitrations to which it may become a party, the company said in the statement.
____________________
By Aaron Simonsky reporting from Belize City. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
