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Brazilian state oil company Petróleo Brasileiro SA has agreed to settle lawsuits from Pacific Investment Management Co. and three other investors who alleged they were harmed by a corruption scheme that funneled billions of dollars from the company.
Petrobras’ board approved agreements with investment funds managed by Pimco, Dodge & Cox, Janus Capital Group and Al Shams Investments Ltd., the company said late Friday, marking the first time it has settled with investors who sued in the wake of the so-called Car Wash scandal. The company added that it expects to take a provision of $353 million against its third-quarter earnings to cover these and other deals that are being discussed.
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Ted
https://www.google.com/#q=Petrobras+Agrees+to+Settle+Car+Wash+Suits+With+Pimco,+Others++wsj
