Levi & Korsinsky, LLP Announces a Notice of Settlement in JBS ADRs Securities Litigation

NEW YORK, April 8, 2019 /PRNewswire/ --

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF:
(1) PENDENCY AND PROPOSED SETTLEMENT OF
CLASS ACTION AND (2) HEARING ON PROPOSED SETTLEMENT

TO:         ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED AMERICAN DEPOSITARY RECEIPTS ISSUED FOR JBS S.A. SHARES DURING THE PERIOD FROM JUNE 1, 2013 THROUGH JULY 5, 2017, INCLUSIVE (THE "CLASS PERIOD").

YOU ARE HEREBY NOTIFIED that the above-captioned action has been certified as a class action for settlement purposes and that the Lead Plaintiff has reached a proposed settlement with JBS S.A. ("JBS") to resolve all claims in the case for a payment of $5,466,600 for the benefit of the Class, a payment of $400,000 to cover certain of the expenses associated with implementing and administering the Settlement and/or additional Class payments, and a waiver of payment of any mediation fees and expenses arising out of mediation that occurred before the Settlement Agreement was executed.

The settlement Class consists of all persons and entities who purchased or otherwise acquired American Depositary Receipts ("ADRs") issued for JBS shares during the Class Period (the "Relevant Securities"), with certain exceptions for persons and entities affiliated with JBS or persons or entities who settled Released Class Claims with JBS.

A hearing will be held on July 18, 2019, at 11:00 a.m. ET, before United States District Judge I. Leo Glasser, at the United States District Court for the Eastern District of New York, located at 225 Cadman Plaza East, Brooklyn, New York 11201, to determine whether the Court should approve the proposed settlement as fair, reasonable and adequate, and whether the Court should grant Lead Counsel's application for attorneys' fees and expenses in an amount not to exceed $1,966,666.67 and reimbursement of expenses in an amount not to exceed $50,000, and an incentive award to Lead Plaintiff in an amount not to exceed $35,000. The Court may change the date of the hearing without further notice to the Class. If you intend to attend the hearing, you should confirm the date and time with Class Counsel or by checking the Settlement website.

IF YOU ARE A CLASS MEMBER, YOUR RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT MONEY.

If you have not yet received the full notice of the proposed settlement (the "Notice"), you may obtain it by requesting a copy (i) by mail, to JBS Securities Litigation, Claims Administrator, c/o A.B. Data, Ltd., P.O. Box 173067, Milwaukee, WI 53217, (ii) by telephone, at 800-949-1484, or (iii) by email, at [email protected]. You may also download the Notice from the following website: www.JBSADRSettlement.com.

To participate in the settlement, you must submit a Claim Form. You may download the Claim Form from www.JBSADRSettlement.com, or you may contact the Claims Administrator to request a Claim Form and to be added to the mailing list. Completed Claim Forms must be postmarked or received by July 8, 2019, at the Claims Administrator's address (set out above). 

If you purchased or otherwise acquired Relevant Securities during the Class Period, you will be deemed a Class Member unless you ask to be excluded from the Class. Any requests for exclusion must be mailed to the Claims Administrator's address (set out above) and postmarked or received by the Claims Administrator by June 6, 2019. The exclusion request must include the following information: (i) name, (ii) address, (iii) telephone number, (iv) email address, if available, (v) a statement that the potential Class Member wishes to request exclusion from the Class in Murphy v. JBS S.A., Case No.: 1:17-cv-03084-ILG-RER, (vi) the number of Relevant Securities purchased or otherwise acquired or sold during the Class Period, (vii) price(s) paid or value at receipt, and, if sold, the sales price(s), (viii) the date of each transaction involving such Relevant Securities, (ix) account statements verifying all such transactions and the number of Relevant Securities still held (if any) and (x) the reason(s) why the Class Member is requesting exclusion.

You will be bound by any judgment rendered in the class action unless you timely request exclusion from the Class as explained in the Notice, even if you have pending or later file another lawsuit, arbitration, or other proceeding relating to the claims covered by this Settlement. If you submit a valid and timely request for exclusion, you cannot share in the Settlement money, cannot object to the Settlement and will not be bound by the Settlement or the Court's rulings.

The Notice also describes how you may object to any aspect of the Settlement, including the Plan of Allocation, the request for attorneys' fees and expenses and/or the request for an incentive award for Lead Plaintiff. All objections must be postmarked or received by the Court (at the address set out above) and the lawyers listed below no later than June 6, 2019:

Inquiries, other than requests for copies of the Notice or for inclusion in the mailing list for future notices, may be directed to Lead Counsel for the Class. Please do not contact the Court with your inquiries.

SOURCE Levi & Korsinsky, LLP