Brazil's Petrobras faces another lawsuit over corruption scandal
SAO PAULO Dec 15 (Reuters) - Morgan & Morgan PA filed a class action lawsuit against Petróleo Brasileiro SA on Monday in a U.S. court, the latest in a series of legal actions against Brazil's state-controlled oil producer in the wake of a corruption scandal.
In a statement, Morgan & Morgan said the lawsuit was filed in the District Court for the Southern District of New York on behalf of investors who purchased shares of the company between May 20, 2010 and Nov. 21, 2014.
Morgan & Morgan said the complaint alleges that Petrobras, as the company is commonly known, "issued materially false and misleading statements by misrepresenting facts and failing to disclose a culture of corruption." Last week, a similar action by Wolf Popper LLP was filed in the same court. (Reporting by Guillermo Parra-Bernal; Editing by Paul Simao)
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