The oil services giant at the centre of a global corruption scandal could soon be taken to court by its own shareholders.
Petrofac may be forced to face a legal claim after a string of bribery and corruption allegations halved the UK-listed company’s market value, according to legal funding firm Innsworth.
The “vulture capitalist”-backed litigation investor sounded the warning shot after Petrofac’s former sales boss pleaded guilty to 11 counts of bribery last week.
The claim is understood to have attracted interest from major institutional shareholders on Petrofac’s register and could amount to more than £400m in damages.
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