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Petrobras settles four Car Wash-linked shareholder suits, sets aside $353 million

( October 21, 2016, 22:31 GMT | Official Statement) -- MLex Summary: Petrobras, the Brazilian state-owned oil firm embroiled in a bribery and kickback scandal, has settled four shareholder lawsuits arising from allegations that Petrobras misrepresented information about the bribery and the ensuing investigation.  The company said it would record a provision of $353 million based on the settlements and other ongoing negotations. Petrobras denied wrongdoing and said that it would continue to defend itself against 23 other similar actions and a class action lawsuit.Statement follows in full....

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