New York law firm Pomerantz LLP was appointed to lead investors suing Petroleo Brasileiro SA for securities fraud tied to an alleged multimillion-dollar kickback scheme (In re Petrobras Sec. Litig., S.D.N.Y., 1:14-cv-09662, order).
Judge Jed Rakoff of the U.S. District Court for the Southern District of New York March 4 selected Pomerantz and its client, a Liverpool, England-based pension fund, to lead a class of investors who claim they lost money when the scheme became public and shares of Brazil’s state-run oil producer, known as Petrobras, plunged.
The court selected the Pomerantz firm and Universities Superannuation Scheme ...
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