LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired the securities of BRF S.A. (“BRF” or the “Company”) (NYSE: BRFS) between April 4, 2013 through March 2, 2018, inclusive (the “Class Period”). BRF investors have until May 11, 2018 to file a lead plaintiff motion.
To obtain information or actively participate in the class action, please visit BRF page on our website at www.glancylaw.com/case/brf-sa-0. Investors that suffered losses on their BRF investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
The complaint filed in this class action alleges that, Defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) BRF employees paid bribes to regulators and politicians to subvert inspections in order to conceal unsanitary practices at the Company’s meatpacking plants; (2) the foregoing conduct, when it came to light, would foreseeably subject BRF and its officers to heightened regulatory enforcement and/or prosecution; and (3) as a result, BRF’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On March 5, 2018, Reuters reported that Brazilian federal police arrested BRF’s former CEO on charges that he and other executives knew that BRF fraudulently avoided food safety checks. On this news, BRF’s share price fell $1.83, or more than 19% to close at $7.59 per share on March 5, 2018, thereby injuring investors.
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If you purchased shares of BRF during the Class Period you may move the Court no later than May 11, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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