Attorneys for Brazilian energy giant Petrobras are asking the U.S. Court of Appeals for the Second Circuit to reconsider its order that would largely have allowed the class action suit against it to proceed.
The order, partially vacating and partially affirming from Circuit Judges Peter Hall and Debra Ann Livingston and U.S. District Judge Nicholas Garaufis for the Eastern District of New York, sitting by designation, was largely a win for the plaintiffs. While the panel found that U.S. District Judge Jed Rakoff of the Southern District of New York had erred in how he defined the plaintiffs in two separate classes suing Petrobras, it also rejected a higher standard for class membership sought by the company.
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