WILMINGTON, Del., Sept. 23, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own ADRs of Embraer S.A. (NYSE:ERJ)?
- Did you purchase your shares between April 16, 2012 and July 28, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. reminds shareholders of Embraer S.A. (“Embraer” or the “Company”) (NYSE:ERJ) of an upcoming deadline involving a securities fraud class action lawsuit commenced against the Company. A complaint was filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased the American Depository Receipts (“ADRs”) of Embraer between April 16, 2012 and July 28, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. According to the Complaint, Defendants failed to disclose an illicit bribery scheme in which Embraer made unlawful payments to officials in the Dominican Republic in exchange for contracts for the sale of the Company’s aircraft. The United States Securities and Exchange Commission (“SEC”), which initiated an investigation of Embraer for possible violations of the U.S. Foreign Corrupt Practices Act (“FCPA”), provided evidence to Brazilian law enforcement. Thereafter, Brazilian authorities filed criminal bribery charges against eight of Embraer’s former executives and directors and an Embraer sales consultant in September 2014. That consultant, who admitted to the bribery on March 16, 2016, stated that Federico Pinheiro Fleury Curado, Embraer’s CEO, as well as other top management knew of the illicit bribery scheme.
If you wish to serve as lead plaintiff, you must move the Court no later than October 7, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
If you purchased shares of Embraer during the Class Period, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/embraer-erj.
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