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Petrobras attributes 2017 $91 million loss in part to $2.95 billion settlement in bribery-related US lawsuit

( March 15, 2018, 16:14 GMT | Official Statement) -- MLex Summary: Petrobras, the Brazilian national oil company, said it lost $91 million in 2017 due in part to a large settlement of a US shareholder class action suit related to bribery. Petrobras at the beginning of this year said that it had settled the suit for $2.95 billion, which would be "recognized in the fourth quarter of 2017." It also said that its participation in a Brazilian tax settlement program contributed to the loss. Shareholders claimed that Petrobras had misrepresented information about bribery and resulting investigations.Please see attached document....

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