Brazil’s Petrobras announced on Wednesday (Jan.3) that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors who claim they lost money as a result of the corruption scheme that operated in the company during the years it was administrated by appointees of the Workers’ Party (2003-2016). Petrobras’ market value has plunged as the corruption scandal investigation  deepened.

Petrobras denied any wrongdoing and said in court it was also a victim of the criminals  put in high positions at the company, who diverted more than $2 billion in bribes and kick-backs over a decade, mainly from construction and engineering companies.

The deal does not include investors who bought non-U.S.-based Petrobras securities outside the United States, according to the company.