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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of October 3, 2020 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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October 23, 2020 - The court granted final approval of the settlement.
May 15, 2020 - The court preliminarily approved the settlement.
May 5, 2020 - A stipulation and agreement of settlement was entered by the parties.
November 8, 2019 - A fourth amended complaint was filed.
October 25, 2019 - The court denied the defendants' motion to dismiss.
June 24, 2019 - A motion to dismiss the third amended complaint was filed.
May 10, 2019 - A third amended complaint was filed.
December 4, 2018 - A second amended complaint was filed.
September 7 , 2018 - An amended complaint was filed.
March 12, 2018 - An investor in shares of BRF SA (ADR) (NYSE: BRFS) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by BRF SA in connection with certain allegedly false and misleading statements made between April 4, 2013 and March 2, 2018.
BRF S.A. is a multinational Brazilian company that owns a diverse portfolio of products and is a producer of foods.
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.
According to the complaint the plaintiff alleges on behalf of purchasers of BRF SA (ADR) (NYSE: BRFS) common shares between April 4, 2013 and March 2, 2018, that the defendants violated Federal Securities Laws.
More specifically, 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.