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Name | Symbol | Market | Type |
---|---|---|---|
Petroleo Brasileiro ADR | NYSE:PBR.A | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.77 | -4.69% | 15.65 | 15.94 | 15.52 | 15.91 | 5,064,468 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PETRÓLEO BRASILEIRO S.A. – PETROBRAS
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(Translation of registrants name into English) | ||||
Avenida República do Chile, 65
20031-912 – Rio de Janeiro, RJ Federative Republic of Brazil |
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(Address of principal executive office) |
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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: [ x ] Form 20-F [ ] Form 40-F | ||||
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ] | ||||
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ] | ||||
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: [ ] Yes [ x ] No | ||||
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a |
Petrobras approves settlement with investors to end individual securities action in the United States Rio de Janeiro, June 19, 2017 – Petróleo Brasileiro S.A. – Petrobras announces that its Board of Directors approved, in a meeting held today, an agreement to settle an individual securities action brought before the U.S. federal District Court for the Eastern District of Pennsylvania by a number of funds affiliated with The Vanguard Group, Inc. (“Vanguard”). Vanguard is one of the Company’s largest shareholders, after the Brazilian Federal Government and affiliated entities. Petrobras has previously entered into settlements to end 19 individual securities actions brought in the U.S. federal District Court for the Southern District of New York, as disclosed on October 21, 2016, November 23, 2016 and February 24, 2017. Including the 19 lawsuits previously settled, 27 total individual actions were consolidated for purposes of judgment jointly with a class action filed against the Company (and others) in the Southern District of New York. Vanguard’s lawsuit was the only related individual action filed outside of New York. As a result of the agreements reached and the stage of negotiations in progress with other individual action plaintiffs, the total value of the estimated provisions amounts to US$ 445 million for the second quarter of 2017, of which US$ 372 million had already been provisioned in the 2016 financial statements. At the moment, it is not possible for Petrobras to make a reliable estimate of the outcome of the class action. These settlements, the terms of which are confidential, have the purpose of eliminating uncertainties, burdens and costs associated with the continuity of such disputes and do not constitute any acknowledgment of responsibility on the part of Petrobras, which will continue to firmly defend itself in other ongoing actions. _____________________________________________________________________________ www.petrobras.com.br/ir Contacts: PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations Department I e-mail: petroinvest@petrobras.com.br Av. República do Chile, 65 – 10th floor, 1002 – B – 20031-912 – Rio de Janeiro, RJ | Phone: 55 (21) 3224-1510 / 3224-9947 FORWARD-LOOKING STATEMENTS This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to risks and uncertainties. The forward-looking statements, which address the Company’s expected business and financial performance, among other matters, contain words such as “believe,” “expect,” “estimate,” “anticipate,” “optimistic,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” and similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. There is no assurance that the expected events, trends or results will actually occur. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason. The Company’s actual results could differ materially from those expressed or forecast in any forward-looking statements as a result of a variety of assumptions and factors. These factors include, but are not limited to, the following: (i) failure to comply with laws or regulations, including fraudulent activity, corruption, and bribery; (ii) the outcome of ongoing corruption investigations and any new facts or information that may arise in relation to the “Lava Jato Operation”; (iii) the effectiveness of the Company’s risk management policies and procedures, including operational risk; and (iv) litigation, such as class actions or proceedings brought by governmental and regulatory agencies. A description of other factors can be found in the Company’s Annual Report on Form 20-F for the year ended December 31, 2016, and the Company’s other filings with the U.S. Securities and Exchange Commission.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | ||
Date: June 19, 2017 | By: |
/s/ Ivan de Souza Monteiro
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Name: | Ivan de Souza Monteiro | |
Title: | Chief Financial Officer and Investor Relations Officer | |
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