LOS ANGELES, CA / ACCESSWIRE / August 29, 2016 / Lundin Law PC (the "Firm") announces a class action lawsuit has been filed against Embraer S.A. ("Embraer" or the "Company") (NYSE: ERJ) concerning possible violations of federal securities laws between April 16, 2012 and July 28, 2016 (the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm in advance of the October 7, 2016 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here. You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at [email protected].
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The Complaint alleges that during the Class Period, the Company made false and misleading statements and/or failed to disclose material facts, specifically: that it paid bribes to Dominican Republic officials to secure contracts for aircraft sales; that Embraer's President and CEO Frederico Curado had knowledge of the bribe; that the fallout from this misconduct would cost Embraer hundreds of millions of dollars; and as a result of the above, the Company's statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times. In June 2016, the Company stated that its CEO Frederico Curado would be stepping down. On July 29, 2016, Embraer announced a loss of $99.4 million for the quarter after setting aside $200 million in connection with a U.S. Foreign Corrupt Practices Act probe that it was negotiating with the U.S. Department of Justice since May 2015. The Company also reduced 2016 guidance for its executive jet business. When this news was announced to the public, Embraer shares declined in value, causing investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
[email protected]
http://lundinlawpc.com/
SOURCE: Lundin Law PC