Case Page

 

Case Status:    ONGOING    
On or around 11/06/2017 (Ongoing date of last review)

Filing Date: July 22, 2015

According to the law firm press release, the lawsuit alleges defendants throughout the Class Period issued materially false and misleading statements to investors and/or failed to disclose that: (1) the Company’s senior officials were in non-compliance with the Company’s corporate governance directives and Code of Ethics; (2) as a result, the Company was subject to investigation and disciplinary action by various governmental and regulatory authorities; (3) the Company’s financial statements were materially false and misleading as they contained direct references to the Company’s Code of Ethics, and statements regarding its compliance with regulations and internal governance policies; (4) the Company lacked adequate internal and financial controls; (5) the SOX certifications signed by Eletrobras’ senior management were materially false and misleading as senior management was aware of “any fraud, whether or not material”; and (6), as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Plaintiffs filed a consolidated complaint on December 8, 2015. This was followed by the filing of a second amended complaint on February 26, 2016.

COMPANY INFORMATION:

Sector: Utilities
Industry: Electric Utilities
Headquarters: Brazil

SECURITIES INFORMATION:

Ticker Symbol: EBR
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 15-CV-05754
JUDGE: Hon. John G. Koeltl
DATE FILED: 07/22/2015
CLASS PERIOD START: 02/10/2014
CLASS PERIOD END: 04/29/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 15-CV-05754
JUDGE: Hon. John G. Koeltl
DATE FILED: 02/26/2016
CLASS PERIOD START: 08/17/2010
CLASS PERIOD END: 06/24/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kahn Swick & Foti, LLC (Madisonville)
    206 Covington Street, Kahn Swick & Foti, LLC (Madisonville), LA 70447
    (504) 455-1400 (504) 455-1498 ·
  2. Kaplan Fox & Kilsheimer, LLP (New York)
    850 Third Avenue, 14th Floor, Kaplan Fox & Kilsheimer, LLP (New York), NY 10022
    212.687.1980 212.687.1980 ·
No Document Title Filing Date