-
In re BRF Securities Litigation
The case of the day is In re BRF S.A. Securities Litigation (S.D.N.Y. 2019). The lead plaintiff is the Birmingham Retirement and Relief System. It brought an action against BRF, a poultry exporter in Brazil, whose American depository receipts traded on the NYSE. The claim was that BRF and its executives bribed regulators and officials……
-
Brazil Accedes to the Service Convention
Brazil has acceded to the Hague Service Convention. This is a boon to US lawyers, since from a practitioner’s perspective the Hague Convention is much more user-friendly than the Inter-American Convention. As of today, there do not appear to be any declarations or objections accompanying the accession. It’s heartening to see Brazil take such a……
-
Case of the Day: Washington State Investment Board v. Odebrecht
The case of the day is Washington State Investment Board v. Odebrecht S.A. (S.D.N.Y. 2018). The Washington State Investment Board sued Odebrecht, a Brazilian company, for securities fraud. It sought leave to serve process on Odebrecht by service on Quinn Emmanuel, Odebrecht’s US lawyers in a related criminal case.
-
Case of the Day: EIG Energy Fund v. Petroleo Brasileiro
The case of the day is EIG Energy Fund XIV, LP v. Petroleo Brasileiro, S.A. (D.C. Cir. 2018). The case arose out of the Petrobras scandal in Brazil, in which Petrobras, the state oil company, allegedly defrauded EIG and other investors who sank millions into a major oil extraction project off the Brazilian coast, only……
-
Lago Agrio: Gibraltar and Other Updates
A few updates from the Lago Agrio case: The Supreme Court of Gibraltar has entered a default judgment against Pablo Fajardo, the Frente de Defensa de la Amazonia, and others, for approximately $38 million in damages. It also enjoins them from doing anything “in or from Gibraltar for the purpose of assisting or supporting” the……