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Mar 14, 2018 7:30 AM ET

SHAREHOLDER ALERT: Brower Piven Notifies Investors of Class Action Lawsuit And Encourages Those Who Have Losses In Excess Of $100,000 From Investment In BRF S.A. (NYSE: BRFS) To Contact Brower Piven Before The Lead Plaintiff Deadline

Legal Newswire iCrowdNewswire - Mar 14, 2018

STEVENSON, Md.,  — The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of BRF S.A. (NYSE:BRFS) (“BRF” or the “Company”) American Depositary Receipts (“ADRs”) between April 4, 2013 and March 2, 2018, inclusive (the “Class Period”).  Investors who wish to become proactively involved in the litigation have until May 11, 2018 to seek appointment as lead plaintiff.

If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court.  The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action.  The lead plaintiff will be selected from among applicants claiming the largest loss from investment in BRF securities during the Class Period.  Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.  No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that BRF employees paid bribes to regulators and politicians to subvert inspections in order to conceal unsanitary practices at the Company’s meatpacking plants.

According to the complaint, following March 17, 2017 reports that Brazilian federal police had raided the offices of BRF and dozens of other meatpackers following a two-year investigation into alleged bribery of regulators to subvert inspections of their plants, a February 23, 2018  conference call to discuss the effect of the raid, and a March 5, 2018 report that Brazilian federal police arrested BRF’s former Chief Executive Officer on charges that he and other executives were aware that BRF committed fraud by trying to avoid food safety checks, the value of BRF American Depositary Receipts declined significantly.

If you have suffered a loss in excess of $100,000 from investment in BRF securities purchased on or after April 4, 2013 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.  If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice.  You need take no action at this time to be a member of the class.

Contact Information:

Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
[email protected]

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