Brazil's Petrobras Settles Shareholder Lawsuit With Vanguard

By Paul Kiernan Features Dow Jones Newswires

Brazilian state-run oil company Petróleo Brasileiro SA, or Petrobras, said Monday its board has agreed to a shareholder lawsuit filed by Vanguard Group to recover corruption-related losses.

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Though it didn't disclose the terms of the agreement, Petrobras said it will raised its financial provision for settlements with shareholders to $445 million from $372 million.

Write to Paul Kiernan at paul.kiernan@wsj.com

(END) Dow Jones Newswires

June 19, 2017 18:20 ET (22:20 GMT)