The large Brazilian oil company has been accused of inflating the value of more than $98bn of its stock and bonds through years of corruption
A US judge has ordered Petrobras, the state-run Brazilian oil company, to face class-action litigation by investors seeking to recoup billions of dollars in losses stemming from a bribery and political kickback scandal.
In a decision made public on Tuesday, US district judge Jed Rakoff in Manhattan certified two classes of plaintiffs, saying their claims are similar enough to be pursued as groups.
Related: Brazil oil giant faces $98bn shareholder lawsuit in US over corruption scheme