NEW YORK, June 15, 2017 /PRNewswire/ -- Scott+Scott, Attorneys at Law, LLP ("Scott+Scott"), a national shareholder and consumer rights litigation firm, announces that a class action lawsuit has been filed against JBS S.A. (OTCQX: JBSAY) ("JBS" or the "Company") and certain of its senior officers and executives regarding violation of federal securities laws. If you purchased JBS American Depositary Receipts ("ADRs") between June 2, 2015 and May 19, 2017, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information. The deadline for filing lead plaintiff papers in the lawsuit is July 21, 2017.
JBS is a Brazilian food company that processes meats, such as beef, pork, lamb and chicken, as well as the hides, and exports its products throughout the world.
On March 17, 2017, it was widely reported that Brazilian federal police raided the offices of JBS and other meatpacking companies in a crackdown on alleged bribery of health officials known as "Operation Weak Flesh." In May 2017, JBS's Chairman and CEO admitted to paying high-level government bribes and the President of Brazil accused the Company's Chairman and CEO of insider trading.
On June 1, 2017, The Wall Street Journal reported that JBS's holding company "would pay 10.3 billion reais ($3.2 billion) over 25 years after admitting to paying roughly $150 million–mostly in bribes–to politicians."
On June 9, 2017, Reuters reported that Brazil's federal police raided JBS offices to investigate the alleged use of insider information in financial market dealings.
Since market close on March 16, 2017, the price of JBS ADRs has plummeted over 45%.
What You Can Do
If you are an investor in JBS ADRs and you wish to discuss this lawsuit, or have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at email@example.com. Shareholders have until July 21, 2017 to petition the court for lead plaintiff status.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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SOURCE Scott+Scott, Attorneys at Law, LLP