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Case Status:    SETTLED
On or around 10/23/2020 (Date of order of final judgment)

Filing Date: March 12, 2018

BRF S.A. is a food processor and the world’s largest poultry exporter. Its portfolio includes established brands in Brazil and abroad, such as Sadia, Perdigão, Qualy, Chester, Perdix and Paty. The Company provides meat (poultry and pork), foods processed from meats, pizzas, pastas and frozen vegetables.

According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) BRF employees paid bribes to regulators and politicians to subvert inspections in order to conceal unsanitary practices at the Company’s meatpacking plants; (ii) the foregoing conduct, when it came to light, would foreseeably subject the Company and its officers to heightened regulatory enforcement and/or prosecution; and (iii) as a result of the foregoing, BRF’s public statements were materially false and misleading at all relevant times.

On July 2, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on September 7. On December 4, Lead Plaintiff filed a second amended Complaint. Lead Plaintiff filed a third amended Complaint on May 10, 2019. Defendants filed a Motion to Dismiss the third amended Complaint on June 24. On October 25, the Court issued an Order denying Defendants' Motion to Dismiss. Lead Plaintiff was given leave to file a fourth amended Complaint. On November 8, Lead Plaintiff filed a fourth amended Complaint.

The parties entered into a Stipulation of Settlement on May 5, 2020. On May 15, the Court granted preliminary approval of the Settlement. On October 23, the Court granted final approval of the Settlement and entered Final Judgment.


Sector: Consumer Non-Cyclical
Industry: Food Processing
Headquarters: Brazil


Ticker Symbol: BRFS
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 #: 18-CV-02213
JUDGE: Hon. P. Kevin Castel
DATE FILED: 03/12/2018
CLASS PERIOD END: 03/02/2018
  1. Pomerantz LLP (New York)
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 18-CV-02213
JUDGE: Hon. P. Kevin Castel
DATE FILED: 11/08/2019
CLASS PERIOD END: 03/05/2018
  1. Robbins Geller Rudman & Dowd LLP (Melville)
No Document Title Filing Date
—Related District Court Filings Data is not available