March 28, 2017 (Shareholders Foundation) - An investigation on behalf of investors of BRF SA (ADR) (NYSE:BRFS) shares over potential securities laws violations by BRF SA and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of BRF SA (ADR) (NYSE:BRFS) concerning whether a series of statements by BRF SA (ADR) regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

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.

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.