Brower Piven Alerts Shareholders of Upcoming Deadline in Class Action Lawsuit & Encourages Those with Losses from Investment ...
September 12 2016 - 4:54PM
Business Wire
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 Embraer S.A. (NYSE:
ERJ) (“Embraer” or the “Company”) securities during the period
between April 16, 2012 and July 28, 2016, inclusive (the “Class
Period”). Investors who wish to become proactively involved in the
litigation have until October 7, 2016 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 Embraer 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 the Company had
paid bribes to officials in the Dominican Republic to secure
contracts for the sale of military aircraft and that the
consequences of the bribery scheme could cost the Company hundreds
of millions of dollars.
According to the complaint, following a November 1, 2013 article
reporting that the Company was under investigation by the U.S. and
Brazilian governments concerning the bribery scheme, a September
23, 2014 article reporting that Brazilian authorities had filed
bribery charges against eight Embraer employees, a June 9, 2016
announcement that the CEO was stepping down, and a July 29, 2016
filing disclosing a $200 million loss contingency in the quarter
ended June 30, 2016 for the settlement of the allegations of
non-compliance with the U.S. Foreign Corrupt Practices Act, the
value of Embraer American Depository Receipts declined
significantly.
If you have suffered a loss in excess of $100,000 from
investment in Embraer securities purchased on or after April 16,
2012 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 visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160912006495/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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