Brazil’s state-controlled oil company, Petroleo Brasileiro SA ( PETR4.SA ), said Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors seeking to recoup the money they claim to have lost as a result of a corruption scandal. Petrobras, as the company is known, did not admit wrongdoing under the deal, which is one of the largest securities class action settlements in the United States. U.S. District Judge Jed Rakoff in Manhattan must approve the settlement. Investors sued Petrobras after prosecutors in Brazil accused former executives at the company of accepting more than $2 billion in bribes over a decade, mainly from construction and engineering companies. Petrobras claimed it was itself a victim, but its market value plunged as the so-called Lava Jato or “car wash” scandal deepened. Petrobras said Wednesday that it hoped the settlement would resolve […]