In Re Petrobras Securities Litigation involves Petrobras investors who acquired securities both in Brazil and in the United States and who filed a class action in an American court. Petrobras sought to block access to the US jurisdiction by reasoning about the validity and scope of the arbitration clause contained in its bylaws. This article explains the arguments raised by each party to the lawsuit and clarifies the decision given by the US court. It then presents some of the implications and doubts that are relevant for Brazilian companies issuing securities in the United States.
Revista Brasileira de Arbitragem