A lawsuit was filed on behalf of investors in JBS SA ADR (OTCMKTS:JBSAY) shares over alleged securities laws violations. Deadline: May 22, 2017. JBS SA ADR investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/27/2017 -- The Shareholders Foundation announces that an investor, who purchased shares of JBS SA ADR (OTCMKTS:JBSAY), filed a lawsuit against JBS SA in Pennsylvania over alleged violations of Federal Securities Laws.
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 858-779-1554.
The plaintiff claims that 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 24, 2017 JBS SA ADR (OTCMKTS:JBSAY) shares closed at $7.00 per share.
Those who purchased shares of JBS SA ADR have certain options and should contact the Shareholders Foundation.
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