Cases
JBS S.A. (OTC: JBSAY)
Securities Class Action
Overview
Overview
- Date:
- 3/24/2017
- Company Name:
- JBS S.A.
- Stock Symbol:
- JBSAY
- Class Period:
- FROM 6/2/2015 TO 3/17/2017
- Status:
- Closed/Complete
- Court:
- U.S. Bankruptcy Court: Eastern District of Pennsylvania
NEW YORK, March 24, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities who acquired JBS S.A. (OTC: JBSAY) securities between AJune 2, 2015 and March 17, 2017 (the “Class Period”).
According to the lawsuit, Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) JBS executives bribed regulators and politicians to subvert food inspections of its plants and overlook unsanitary practices such as processing rotten meat and running plants with traces of salmonella; and (2) as a result, Defendants’ statements about JBS’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
On March 17, 2017, news outlets reported that Brazilian federal police raided the offices of JBS and dozens of other meatpackers following a two-year investigation into alleged bribery of regulators to subvert inspections of their plants and overlook unsanitary practices. Police arrested two JBS employees, as well as 20 public officials. JBS stated in a securities filing that three of its plants and one of its employees were targeted in the probe. On this news, shares of JBS fell $0.71 per share or over 9.2% to close at $6.96 per share on March 17, 2017, damaging investors.
If you purchased or otherwise acquired JBS securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
According to the lawsuit, Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) JBS executives bribed regulators and politicians to subvert food inspections of its plants and overlook unsanitary practices such as processing rotten meat and running plants with traces of salmonella; and (2) as a result, Defendants’ statements about JBS’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
On March 17, 2017, news outlets reported that Brazilian federal police raided the offices of JBS and dozens of other meatpackers following a two-year investigation into alleged bribery of regulators to subvert inspections of their plants and overlook unsanitary practices. Police arrested two JBS employees, as well as 20 public officials. JBS stated in a securities filing that three of its plants and one of its employees were targeted in the probe. On this news, shares of JBS fell $0.71 per share or over 9.2% to close at $6.96 per share on March 17, 2017, damaging investors.
If you purchased or otherwise acquired JBS securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.