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JBS SA ADR (OTCMKTS: JBSAY) Investor Securities Class Action Lawsuit 03/22/2017

  • You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of July 8, 2019 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.

  • 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

Company
JBS SA
Security
OTCMKTS: JBSAY

Case Name
JBS Shareholder Class Action Lawsuit 03/22/2017
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Eastern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
JBS_Settlement12_20_2019.pdf
Settlement Proof
JBS_Proof_12_20_2018.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$5,466,600.00
Deadline to Participate in Settlement

You must register to view and download the Settlement Notice and Settlement Proof.

Summary

March 8, 2019 - The court preliminarily approved the settlement.

December 20, 2018 - A stipulation of settlement was filed by the parties.

August 29, 2018 - A consolidated complaint was filed.

May 1, 2017 - The case was transferred to the U.S. District Court for the Eastern District of New York.

March 22, 2017 - An investor in shares of JBS SA ADR (OTCMKTS: JBSAY) filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged violations of Federal Securities Laws by JBS SA in connection with certain allegedly false and misleading statements made between June 2, 2015 and March 17, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of JBS SA ADR (OTCMKTS: JBSAY) common shares between June 2, 2015 and March 17, 2017, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between June 2, 2015 and March 17, 2017 the defendants made false and/or misleading statements and/or failed to disclose that JBS SA 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 SA’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 22, 2017 JBS SA ADR (OTCMKTS: JBSAY) shares closed at $7.07 per share.

Date Settled