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Name | Symbol | Market | Type |
---|---|---|---|
Embraer SA | NYSE:ERJ | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-2.03 | -6.82% | 27.72 | 29.86 | 27.49 | 29.81 | 2,448,020 | 01:00:00 |
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160810005781/en/
Law Offices of Howard G. SmithHoward G. Smith, Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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