Chinese state-run oil giant PetroChina has managed to have a U.S. class-action lawsuit against it dismissed.
A U.S. judge in Manhattan has dismissed claims by PetroChina investors who had accused the company and various officials of deceiving them about its internal controls and governance.
The lawsuit sought to recoup losses suffered by purchasers of PetroChina securities from April 26th of 2012, to December 17th of 2013, due to declines in the company's share price.
The suit was filed amid news of alleged corporate malpractice by PetroChina during that period.
However, the presiding judge says their is not enough evidence to support the suit.
