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Brazil clears Petrobras, advisors of wrongdoing in 2010 share offer
July 11, 2017 / 8:19 PM / a month ago

Brazil clears Petrobras, advisors of wrongdoing in 2010 share offer

RIO DE JANEIRO, July 11 (Reuters) - Brazil's securities industry watchdog on Tuesday cleared Petroleo Brasileiro SA , former management and financial advisors of wrongdoing over alleged irregularities relating to the state-controlled oil company's $70 billion share offering in September 2010.

The watchdog known as CVM had been investigating whether Petrobras deceived minority shareholders by presenting misleading information to them in the offer -- the world's largest ever follow-on stock offering. (Reporting by Marta Noguiera; Writing by Alexandra Alper; Editing by Sandra Maler)

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