Petrofac Faces Shareholder Litigation Over Corruption Claims

Law360, London (February 11, 2019, 2:45 PM GMT) -- Corruption allegations surrounding Petrofac threatened to spill into the English civil courts on Monday as a litigation funder said it would back shareholders in a claim against the oil services company, which is already under investigation by the Serious Fraud Office.

Innsworth Litigation Funding and a law firm, Keystone Law, are assembling institutional shareholders who bought or held shares in Petrofac starting from October 2010. They are “well progressed in their analysis of potential claims,” Innsworth said in a statement.

It is understood that claims against Petrofac, which is registered in the offshore U.K. dependency of Jersey, could exceed £400 million...

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