RecordLens
Menu

Claim review. Disclosure

Supported

The cited record supports the material proposition.

Petrobras agreed in January 2018 to pay US$2.95 billion to settle the US securities class action without admitting wrongdoing.

The agreement does not constitute any admission of wrongdoing or misconduct by Petrobras.
About
Petróleo Brasileiro S.A. - Petrobras
Claim made by
Petróleo Brasileiro S.A. - Petrobras, company statement
Published
3 January 2018
Original
Petrobras Signs Agreement in Principle to Settle Class Action in the U.S.
Evidence score
75 How it was scored
Last reviewed
25 October 2026

Why this label

The company's filing states the amount, the two instalments and the no admission term, and says the deal would go to the federal court in the Southern District of New York for reviewS3. The DOJ release names the class case as In re Petrobras Securities Litigation, No. 14-cv-9662 in that courtS1. The SEC release refers to offsets for payments to investors under a related class action settlementS2, which is consistent. The court's approval order was not read for this record. A settlement with no admission is not a finding of liability.

Current procedural position

Agreement in principle announced on 3 January 2018 and submitted to the US District Court for the Southern District of New YorkS3. The approval order was not reviewed.

Record supporting the assessment

Petrobras has agreed to pay US$ 2.95 billion to resolve claims in two installments of US$983 million
S3 Tier B Petróleo Brasileiro S.A. - Petrobras, Petrobras Signs Agreement in Principle to Settle Class Action in the U.S., 3 January 2018
The agreement does not constitute any admission of wrongdoing or misconduct by Petrobras.
S3 Tier B Petróleo Brasileiro S.A. - Petrobras, Petrobras Signs Agreement in Principle to Settle Class Action in the U.S., 3 January 2018

Conflicting or limiting record

No record located that conflicts with this assessment.

Evidence score: 75 of 100

The score grades how well the record establishes this assessment. It is not a score of Petróleo Brasileiro S.A. - Petrobras. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.

ComponentPointsMaxReason
Source authorityIs the source competent to establish the proposition?2030A company filing is competent for the terms it agreed. The court order was not read.
DirectnessDoes the source state the proposition or only discuss adjacent facts?1920The filing states the amount and the no admission term.
CorroborationDo independent records support the same material point?1015The SEC and DOJ releases refer to the class settlement and its offset.
Procedural accuracyDoes the record settle the procedural state the claim describes?1015An agreement in principle, with court approval not confirmed here.
CurrencyHas the record been checked against later developments?610Later steps in the class case were not reviewed within the search limit.
ReproducibilityCan a reader locate the passage and repeat the assessment?1010The filing is on sec.gov.
Total75100

Timeline

  1. Class action settlement in principle announcedS3

Related cases

  • In the Matter of Petróleo Brasileiro S.A. - PetrobrasUS Securities and Exchange Commission. Regulatory. File No. 3-18843.Stage: Settled
    • Cease and desist order with US$933,473,797 in disgorgement and interest and a US$853.2 million penalty, subject to offsetsS2S5
  • In re Petrobras Securities LitigationUS District Court for the Southern District of New York. Civil. No. 14-cv-9662.Stage: Settlement in principle announced on 3 January 2018 and submitted for court review
    • US$2.95 billion settlement in principleS3
    • DOJ release refers to the class case and its settlement fundS1

Responses

  • Petróleo Brasileiro S.A. - Petrobras, 3 January 2018: Petrobras said the agreement is not an admission of wrongdoing and described itself as a victim of the scheme.S3

Revision history

  • Assessment first published with label Supported.

Have a record that changes this assessment? See corrections and responses.

Sources

  1. S3Tier B Petrobras Signs Agreement in Principle to Settle Class Action in the U.S.Petróleo Brasileiro S.A. - Petrobras. Company filing. 3 January 2018.Company statement of the class action terms and its victim position.
  2. S2Tier A Petrobras Reaches Settlement With SEC for Misleading InvestorsUS Securities and Exchange Commission. Regulator press release. 27 September 2018.Supports the SEC charge and the amounts with offsets. It states no admit or deny language.
  3. S5Tier A In the Matter of Petróleo Brasileiro S.A. - Petrobras, Order Instituting Cease-and-Desist ProceedingsUS Securities and Exchange Commission. Regulator order. 27 September 2018.SEC order in File No. 3-18843 with disgorgement of US$711 million, interest of US$222,473,797 and a US$853.2 million penalty. The order records that Petrobras admits the Commission's jurisdiction. The fetched text showed no admit or deny wording. The en dash in the original caption is shown as a hyphen.
  4. S1Tier A Petróleo Brasileiro S.A. - Petrobras Agrees to Pay More Than $850 Million for FCPA ViolationsUS Department of Justice. Regulator press release. 27 September 2018.Supports the non-prosecution agreement, the penalty split and the described conduct. The en dash in the original title is shown as a hyphen.Link working, checked 25 October 2026

Other claims about Petróleo Brasileiro S.A. - Petrobras