Brazil clears Petrobras, advisors of wrongdoing in 2010 share offer

RIO DE JANEIRO, July 11 (Reuters) - Brazil's securities industry watchdog on Tuesday cleared Petroleo Brasileiro SA , former management and financial advisors of wrongdoing over alleged irregularities relating to the state-controlled oil company's $70 billion share offering in September 2010.

The watchdog known as CVM had been investigating whether Petrobras deceived minority shareholders by presenting misleading information to them in the offer -- the world's largest ever follow-on stock offering. (Reporting by Marta Noguiera; Writing by Alexandra Alper; Editing by Sandra Maler)