JBSAY Investor Reminder: Hagens Berman Reminds Investors in JBS S.A. of the July 21, 2017 Lead Plaintiff Deadline in the Pending Securities Class Action

SAN FRANCISCO, June 16, 2017 -- Hagens Berman Sobol Shapiro LLP reminds investors in JBS S.A. (OTC:JBSAY) of the July 21, 2017 Lead Plaintiff deadline in the pending securities class action.

If you purchased or otherwise acquired securities of JBS S.A. between June 2, 2015 and May 19, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information visit:

https://www.hbsslaw.com/cases/JBSAY

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].

On March 17, 2017, Reuters reported that Brazilian police raided JBS premises during their “Operation Weak Flesh” probe into illegal bribes to inspectors and politicians for overlooking unsanitary practices such as processing rotten meat and shipping exports with traces of salmonella.  This news drove the price of JBS securities down over 9.2% that day.

On May 12, 2017, Reuters reported the Brazilian federal audit court said it “found irregularities related to a loan of 1.13 billion reais ($362 million) from the bank to JBS in 2007, which the company used to finance the acquisition of Swift & Co.”  This news drove the price of JBS securities down over 8% that day.

On May 17, 2017, The New York Times reported that Joesley Batista, the chief executive of J&F Investments, which controls JBS, visited and secretly recorded Brazil President Michel Temer endorsing Batista’s “payment of hush money to a once-powerful politician jailed for corruption[.]”

The article further reported that, according to Brazilian newspaper O Globo, “the recording was made as part of a plea bargain that the brothers Joesley and Wesley Batista, who control the family–owned meat giant JBS, made with prosecutors[]” and “[t]he plea bargain arose out of the giant graft investigation involving Petrobas, the national oil company.”  This news drove the price of JBS securities down 16% the next day.

Then, on May 19, 2017, Reuters reported that Brazil’s securities regulator launched four new probes against JBS and other companies controlled by J&F Investimentos.  The regulator reportedly said it is investigating signs of suspicious insider trading.  This news drove the price of JBS securities down over 31% the next trading day.

On June 1, 2017, The Wall Street Journal reported “J&F Investimentos, which controls JBS and a host of other Brazilian businesses, said it would pay 10.3 billion reais ($3.2 billion) over 25 years after admitting to paying roughly $150 million – mostly in bribes – to politicians.”  The Journal further reported “[a]mong other favors, the graft guaranteed JBS access to billions of dollars in financing that funded an acquisition spree in the U.S. and other countries.”

“We’re focused on these reported facts, which starkly contrast with the Company’s earlier statements,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding JBS should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].

About Hagens Berman
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Contact:
Reed Kathrein, 510-725-3000