WASHINGTON, Nov. 13, 2008 (GLOBE NEWSWIRE) -- Finkelstein Thompson LLP is investigating potential claims on behalf of purchasers of Sadia S.A. (NYSE:SDA) ("Sadia") common stock and/or American Depository Receipts in connection with Sadia's recent announcement that it would take a loss of approximately $410 million related to investments in currency contracts hedging against the U.S. dollar. Recently filed class actions allege this disclosure revealed facts Sadia had wrongfully concealed in violation of the federal securities laws. These allegations, if true, could entitle shareholders to legal remedies.
Specifically, Sadia is alleged to have wrongfully represented that its exposure to currency futures contracts was much lower than it actually was and that its exposure to currency derivative contracts was "nominal." Indeed, when Sadia disclosed the $410 million loss, Sadia allegedly admitted that it had violated its own internal guidelines.
If you are a Sadia shareholder and wish to discuss your rights and interests as an investor, please contact our Washington, D.C. office toll-free at (877) 337-1050 or by email at contact@finkelsteinthompson.com.