Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 214

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 214
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 existence of a class action claim filed by the Association, before
    the Judicial Commercial Courts (Judicial Commercial Claim), pursuant to provisions of Argentine
     capital market law. In March 2021, the court (Room A of the Economic Criminal Chamber) decided
       that this criminal action should be transferred from the Criminal Economic Court No. 3 of   
     the city of Buenos Aires to the Criminal Economic Court No. 2 of the same city. We have filed 
        procedural and merit defenses before the criminal court, but the Criminal Economic Court   
                                 No. 2 has not yet rendered a decision.                            
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 Criminal action alleging fraudulent offer of securities aggravated by allegedly having stated false data in our financial statements issued in 2015. In October 2021, after an appeal by the Association, the Court of Appeals revoked the lower court decision that had recognized our immunity from jurisdiction and recommended that the lower court take steps to certify whether we could be considered criminally immune in Argentina. After reassessing the issue, the lower court denied our immunity from jurisdiction we appealed to the Court of Appeals. In December 2022, the Court again considered the first instance decision to be premature, determining that a third decision be issued. In May 2023, the lower court denied the recognition of our immunity from jurisdiction. We then filed an appeal and the Court of Appeals overturned the lower court decision, but on December 20, 2024, the Court of Cassation granted an appeal filed by the Association and denied our immunity from jurisdiction. We subsequently appealed to the Supreme Court, seeking to reinstate the Court of Appeals' decision. On December 27, 2024, prior to a final ruling by the Supreme Court on the matter, the lower court issued an order for the continuation of the proceedings and a precautionary measure against Petrobras. This order is currently under appeal in the Court of Appeals. On another procedural front, in September 2022, the decision that had recognized that the Association could not act as a representative of financial consumers was reformed by the Court of Cassation after an appeal by the Association. In November 2022, we filed an appeal against this decision, which was denied by the Argentine Supreme Court. We have filed other procedural defenses, which may be rediscussed again at later stages of the proceedings. This criminal case is originally presided by the Criminal Economic Court No. 2 of the city of Buenos Aires.
 

Annual Report and Form 20-F 2024 |
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