Eletrobras legal troubles spread to US as pension fund files lawsuit

The publicly owned investment arm of US state Rhode Island’s capital, Providence, which is an investor in Brazilian state-controlled electricity supplier Eletrobras, has hired New York-based litigation boutique Kaplan Fox & Kilsheimer to file a class-action lawsuit against the company and several of its executives over their alleged link to the cash-for-contracts kickback scheme centred on the utilities provider and its oil and gas counterpart, Petrobras.

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