An investigation for investors in BRF SA (ADR) (NYSE:BRFS) shares over potential securities laws violations by BRF SA (ADR) was announced and NYSE:BRFS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/29/2017 -- An investigation was announced for investors who purchased shares of BRF SA (ADR) (NYSE:BRFS) over potential securities laws violations by BRF SA in connection certain financial statements.
Investors who purchased shares of BRF SA (ADR) (NYSE:BRFS), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm focuses on whether certain statements by BRF SA (ADR) regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On March 17, 2017, news outlets reported that Brazilian federal police raided the offices of BRF SA and dozens of other meatpackers following a two-year investigation into alleged bribery of regulators to subvert inspections of their plants. The probe, known as "Operation Weak Flesh," had reportedly uncovered about 40 cases of meatpackers who had bribed inspectors and politicians to overlook unsanitary practices such as processing rotten meat and running plants with traces of salmonella. Police reportedly arrested three BRF SA employees, as well as 20 public officials. Shares of BRF SA (ADR) (NYSE:BRFS) declined to as low as $10.60 per share on March 20, 2017.
On March 28, 2017, NYSE:BRFS shares closed at $12.21 per share.
Those who purchased shares of BRF SA (ADR) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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