LOS ANGELES, April 21, 2017 /PRNewswire/ -- Lundin Law PC , a shareholder rights firm, announces the filing of a class action lawsuit against JBS S.A. ("JBS" or the "Company") (Other OTC: JBSAY) concerning possible violations of federal securities laws between June 2, 2015 and March 17, 2017 inclusive (the "Class Period"). Investors who purchased or otherwise acquired the Company's shares during the Class Period should contact the firm prior to the May 22, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also do nothing and be an absent class member.
The Complaint alleges that throughout the Class Period, JBS made false and/or misleading statements and/or failed to disclose that its 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.
On March 17, 2017, reports emerged 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. Police arrested two JBS employees, among others. JBS stated in a securities filing that three of its plants and one of its employees were targeted in the probe. When this information reached the public, the stock price of JBS lowered significantly.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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SOURCE Lundin Law PC