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 Pennsylvania on behalf of investors who purchased JBS S.A. (OTCMKTS : JBSAY) securities between June 2, 2015 and March 17, 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; and (2) 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 March 17, 2017, news outlets reported that Brazilian federal police raided the offices of JBS 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. JBS stated in a securities filing that three of its plants and one of its employees were targeted in the probe.
If you suffered a loss in JBS S.A. you have until May 22, 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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