IMPORTANT EQUITY ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Embraer S.A. and Reminds Investors with Losses to Contact the Firm
IRVINE, CA / ACCESSWIRE / August 31, 2016 / Khang & Khang LLP (the “Firm”) announces a class action lawsuit has been filed against Embraer S.A. (“Embraer” or the “Company”) (NYSE: ERJ). Investors who purchased or otherwise acquired shares between April 16, 2012 and July 28, 2016 inclusive (the “Class Period”), are encouraged to contact the Firm prior to the October 7, 2016 lead plaintiff motion deadline.
If you purchased shares of Embraer during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the complaint, 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 announced that CEO Frederico Curado would resign. 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 the true details were released to the public, Embraer shares decreased in value, causing investors harm.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at email@example.com.
This press release may constitute Attorney Advertising in certain jurisdictions.
Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP