LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces that it is investigating claims against JBS S.A. (“JBS” or the “Company”) (OTCMKTS: JBSAY) concerning possible violations of federal securities laws.
JBS was raided by the Brazilian federal police following a two-year investigation into allegations of bribery of regulators to distract inspections of their plants.
This investigation, “Operation Weak Flesh,” had recognized about 40 cases of meatpackers who had bribed inspectors and politicians to ignore unsanitary practices including processing bad meat and operating plants with traces of salmonella.
Police apprehended two JBS employees, as well as 20 public officials.
JBS offered in a securities filing that three of its plants and one of its employees were targeted in the probe.
When this information was revealed to shareholders, the value of JBS stock dropped, causing harm to investors.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.