INVESTOR ALERT: Investigation of Embraer S.A. Announced by Law Offices of Howard G. Smith
August 05 2016 - 1:24PM
Business Wire
Law Offices of Howard G. Smith announces an investigation
on behalf of investors of Embraer S.A. (“Embraer” or the “Company”)
(NYSE: ERJ) concerning the Company and its officers’ possible
violations of federal securities laws.
Embraer designs, develops, manufactures and sells aircraft and
systems in Brazil, North America, Latin America, the Asia Pacific,
Europe and internationally.
In 2014, Brazilian authorities filed a criminal complaint
against an Embraer sales consultant who admitted to soliciting and
paying bribes on behalf of the Company, all with the consent of its
executive management. In addition, U.S. authorities investigated
the Company and several former Embraer officers for potential
violations of the U.S. Foreign Corrupt Practices Act (“FCPA”).
In July 2016, Embraer disclosed that its Chief Executive
Officer, Frederico Curado, would be stepping down. Shortly
thereafter on July 29, 2016, Embraer reported a loss of $99.4
million for the quarter, $200 million of which was set aside for
the aforementioned FCPA investigation. Embraer also lowered its
2016 guidance for its executive jet business.
On this news, Embraer's share price fell sharply, nearly 14% to
close at $18.27 per share on July 29, 2016.
If you purchased Embraer securities, 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 howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160805005684/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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