An investor, who purchased OTCMKTS:JBSAY shares, filed a lawsuit over alleged Securities Laws violations by JBS SA in connection with certain allegedly false and misleading statements.
Investors who purchased shares of JBS SA ADR (OTCMKTS:JBSAY) have certain options and for certain investors are short and strict deadlines running. Deadline: May 22, 2017. JBS SA ADR investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The plaintiff alleges on behalf of purchasers of JBS SA ADR (OTCMKTS:JBSAY) common shares between June 2, 2015 and March 17, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 2, 2015 and March 17, 2017 the defendants made false and/or misleading statements and/or failed to disclose that 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 that 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 SA 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 SA employees, as well as 20 public officials. JBS SA stated in a securities filing that three of its plants and one of its employees were targeted in the probe.
On March 31, 2017 JBS SA ADR (OTCMKTS:JBSAY) shares closed at $6.55 per share.
Those who purchased OTCMKTS:JBSAY shares have certain options and should contact the Shareholders Foundation.
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