The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased JBS S.A. (OTCMKTS : JBSAY) securities between June 2, 2015 and May 19, 2017.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) 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; (2) JBS Chairman Joesley Batista was providing monthly bribery payments to a former Brazilian government official and a lobbyist; (3) there were irregularities with the loans JBS received from Brazilian state-owned development bank BNDES; (4) 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 (5) consequently, defendants' statements about JBS' business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
If you suffered a loss in JBS S.A. you have until July 21, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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