Petrobras to launch lawsuits over graft

RIO DE JANEIRO, May 11, 2015 – Brazil’s state-owned Petrobras has launched lawsuits against engineering and construction companies and their top executives in an attempt to recoup BRL1.3 billion ($436 million) in losses resulting from a corruption scandal, the company announced on Friday.

The company said in a press release it had filed lawsuits against Brazilian companies Engevix and Mendes Júnior on April 30 and on Friday. These cases include claims for BRL452 million ($152 million) in losses related to the corruption scandal revealed in 2014.

Lawsuits totaling BRL826 million ($277 million) would be filed against Galvão Engenharia, OAS Engenharia and Camargo Correa in the weeks to come, the company said.

Petrobras said it is hoping to win back at least BRL6 billion ($2 billion) that was written off its 2014 earnings as a result of allegations of price-fixing, bribery and political kickbacks that rocked the company last year through such lawsuits.

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