BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased BRF S.A. (“BRF” or the “Company”) (NYSE: BRFS) securities between April 4, 2013 through March 2, 2018, inclusive (the “Class Period”). BRF investors have May 11, 2018 to file a lead plaintiff motion.
Investors suffering losses on their BRF investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
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.
If you purchased shares of BRF, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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