A lawsuit was filed on behalf of investors in BRF SA (ADR) (NYSE: BRFS) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 03/28/2018 -- An investor in NYSE: BRFS shares filed a lawsuit in the U.S. against BRF SA over alleged violations of Federal Securities Laws.
Investors who purchased shares of BRF SA (ADR) (NYSE: BRFS), have certain options and for certain investors are short and strict deadlines running. Deadline: May 11, 2018. BRF SA (ADR) (NYSE: BRFS investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
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.
On March 5, 2018, authorities in Brazil arrested BRF's former chief executive and announced a new stage of their probe into the Company regarding an alleged bribery scheme to subvert food safety inspections at the Company's facilities.
The plaintiff claims that between April 4, 2013 and March 2, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that BRF employees paid bribes to regulators and politicians to subvert inspections in order to conceal unsanitary practices at the Company's meatpacking plants, that the foregoing conduct, when it came to light, would foreseeably subject the Company and its officers to heightened regulatory enforcement and/or prosecution, and that as a result of the foregoing, BRF's public statements were materially false and misleading at all relevant times.
Those who purchased shares of BRF SA (ADR) (NYSE: BRFS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego