Pomerantz’s $3 Billion Petrobras Settlement Retains Fifth Place Position in Top 100 Securities Class Action Settlements of All Time

In February 2023, Securities Class Action Services (“SCAS”) released their annual list of the ‘Top 100 U.S. Class Action Settlements of All-Time’ as of 2022, ranking the $3 billion settlement that Pomerantz, as lead plaintiff, achieved with Petróleo Brasileiro S.A.–Petrobras as the fifth-largest securities settlement ever. The litigation against Petrobras that culminated in this historic settlement arose from the Brazilian oil giant’s concealment of a sprawling, decades-long kickback scheme from investors. The lead plaintiff in the litigation, Universities Superannuation Scheme, is the largest private pension fund in the United Kingdom. The settlement, achieved after more…

Pomerantz’s $3 Billion Petrobras Settlement Retains its Position in Top 5 Securities Class Action Settlements of All Time

Securities Class Action Services (“SCAS”) released their annual ‘Top 100 U.S. Class Action Settlements of All-Time,’ ranking the $3 billion settlement that Pomerantz, as lead plaintiff, achieved with Petróleo Brasileiro S.A.–Petrobras as the fifth-largest securities settlement ever. The litigation that culminated in the historic settlement arose from the Brazilian oil giant’s concealment of a sprawling, decades-long kickback scheme from investors. Lead plaintiff Universities Superannuation Scheme is the largest private pension fund in the United Kingdom. The settlement, achieved after more than three years of…