EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against Embraer S.A. - ERJ
August 04 2016 - 9:40PM
Business Wire
Rosen Law Firm, a global investor rights law firm, announces it
is investigating potential securities claims on behalf of
shareholders of Embraer S.A. (NYSE:ERJ) resulting from allegations
that Embraer may have issued materially misleading business
information to the investing public.
In 2014, Brazilian authorities filed a criminal complaint
against an Embraer sales consultant who reportedly admitted to
paying bribes on behalf of Embraer with the knowledge of Embraer’s
top management. Eight former Embraer executives and directors were
also charged. The basis of the charges was reportedly evidence
provided by U.S. authorities, who had been investigating possible
violations of the U.S. Foreign Corrupt Practices Act (“FCPA”) since
as early as 2010. On July 29, 2016, Embraer reported a loss of
$99.4 million for the quarter after setting aside $200 million in
connection with the U.S. FCPA probe. Embraer also disclosed that it
had been negotiating with the U.S. Department of Justice since May
2015 to settle the investigation. On this news, shares of Embraer
fell $2.93 or over 13% to close at $18.27 on July 29, 2016.
Rosen Law Firm is preparing a class action lawsuit to recover
losses suffered by Embraer investors. If you purchased shares of
Embraer on or before July 28, 2016, please visit the firm’s website
at http://www.rosenlegal.com/cases-929.html for more information.
You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm
toll free at 866-767-3653 or via email at pkim@rosenlegal.com or
kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20160804006585/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: 212-686-1060Toll Free: 866-767-3653Fax:
212-202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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