July 22, 2019 - Final approval of the settlement was granted.

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 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 New York over alleged violations of Federal Securities Laws by JBS SA ADR in connection with certain allegedly false and misleading statements made between June 2, 2015 and May 19, 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 May 19, 2017, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between June 2, 2015 and May 19, 2017, 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, that JBS Chairman Joesley Batista was providing monthly bribery payments to a former Brazilian government official and a lobbyist, that there were irregularities with the loans JBS received from Brazilian state-owned development bank BNDES, that JBS and other entities controlled by JBS Chairman Joesley Batista and JBS CEO Wesley Batista made suspicious trades that exhibit signs of possible insider trading prior to the revelation of a plea deal by JBS’ top executives, and that as a result, defendants’ statements about JBS’ business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.

On March 22, 2017 a lawsuit was filed against JBS SA over alleged securities laws violations. The plaintiff claimed 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 May 12, 2017, news outlets reported that Brazilian federal police are investigating whether JBS SA received favorable treatment from state-owned development bank BNDES. The Brazilian federal audit court found irregularities related to a 2007 BNDES loan of 1.13 billion reais ($362 million) to JBS SA to finance the acquisition of Swift & Co. Investigators suspect fraud in those transactions.

On May 17, 2017, news outlets reported during aftermarket hours that JBS SA Chairman Joesley Batista was recorded telling the President of Brazil that Batista was providing monthly payments to Eduardo Cunha, former speaker of the lower house of representatives and lobbyist Lucio Funaro so that they would remain silent while in jail. Batista and his brother Wesley Batista, CEO of JBS, presented the recording to prosecutors as part of plea bargain negotiations. JBS also hired a law firm to discuss a leniency deal with the U.S. Department of Justice.