IMPORTANT INVESTOR NOTICE: Khang & Khang LLP Announces Securities Class Action Lawsuit against Embraer S.A. & Encourages Inve...
August 15 2016 - 3:45PM
Business Wire
Khang & Khang LLP (the “Firm”) announces that a class action
lawsuit has been filed against Embraer S.A. (“Embraer” or the
“Company”) (NYSE: ERJ). Investors who purchased or otherwise
acquired shares between April 16, 2012 and July 28, 2016 inclusive
(the “Class Period”), are encouraged to contact the Firm prior to
the October 7, 2016 lead plaintiff motion deadline.
If you purchased shares of Embraer during the Class Period,
please contact Joon M. Khang, Esquire, of Khang & Khang, 18101
Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949)
419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case. Until
certification occurs, you are not represented by an attorney. You
may choose to take no action and remain a passive class member.
According to the complaint, the Company made false and
misleading statements and/or failed to disclose material facts,
specifically that it paid bribes to Dominican Republic officials to
secure contracts for aircraft sales; that Embraer's President and
CEO Frederico Curado had knowledge of the bribe; that the fallout
from this misconduct would cost Embraer hundreds of millions of
dollars; and as a result of the above, the Company’s statements
about its business, operations, and prospects were false and
misleading and/or lacked a reasonable basis at all relevant
times.
In June 2016, the Company announced that its CEO Frederico
Curado would be stepping down. On July 29, 2016, Embraer announced
a loss of $99.4 million for the quarter after setting aside $200
million in connection with a U.S. Foreign Corrupt Practices Act
probe that it was negotiating with the U.S. Department of Justice
since May 2015. The Company also reduced 2016 guidance for its
executive jet business. When this news was disclosed, Embraer
shares fell in value, causing investors harm.
If you wish to learn more about this lawsuit, or if
you have any questions concerning this notice or your rights,
please contact Joon M. Khang, a prominent litigator for almost two
decades, by telephone: (949) 419-3834, or by e-mail at
joon@khanglaw.com.
This press release may constitute Attorney Advertising in some
jurisdictions.
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version on businesswire.com: http://www.businesswire.com/news/home/20160815005878/en/
Khang & Khang LLPJoon M. Khang, Esq.Telephone:
949-419-3834Facsimile: 949-225-4474joon@khanglaw.com
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