A Delaware judge ruled on Friday that executives from Brazilian meat processor J...
The logo of Brazilian meatpacker JBS SA is seen in the city of Jundiai, Brazil June 1, 2017. REUTERS/Paulo Whitaker
SAO PAULO - A Delaware judge ruled on Friday that executives from Brazilian meat processor JBS SA and from its U.S.-based subsidiary Pilgrim’s Pride Corp will face trial regarding a shareholder lawsuit questioning the acquisition of Moy Park in 2017. Based in Northern Ireland, poultry processor Moy Park was a subsidiary of JBS SA as well. Minority Pilgrim’s shareholders sued the company’s executives, including board members appointed by its parent, after the $1.3 bln acquisition, saying Pilgrim’s was forced by JBS to make the purchase in conditions that were not favorable.
The lawsuit contends JBS was in urgent need of cash at the time. Its controlling shareholder J&F Investimentos, was fined more than $3 billion in Brazil. J&F's owners, the brothers Joesley and Wesley Batista, testified that they bribed more than 1,000 politicians. [
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Volkswagen may face U.S. SEC lawsuit over failure to disclose emissions cheatingVolkswagen AG said the U.S. Securities and Exchange Commission may sue the Germa...
Read more »
Deal or no deal, U.S.-China trade talks may finish in weeks: LighthizerThe United States and China may be in the final weeks of discussions to hammer o...
Read more »
Deal or no deal, U.S.-China trade talks may end in weeks: LighthizerThe United States and China may be in the final weeks of discussions to hammer o...
Read more »
Soccer: U.S. women's head coach Ellis supports players' lawsuitU.S. women's national soccer team coach Jill Ellis threw her support behind...
Read more »
Perspective | U.S. women’s soccer players deserve equal pay, and it shouldn’t take a lawsuitThe sport’s governing body can help address broader pay equities in society by eliminating the disparities between the men’s and women’s national soccer teams
Read more »
Serena backs U.S. women in soccer gender discrimination lawsuitSerena Williams and other prominent American tennis players past and present on ...
Read more »
Serena backs U.S. women in soccer gender discrimination lawsuitSerena Williams and other prominent American tennis players past and present on ...
Read more »
Ethiopia crash may test Boeing's success in defeating U.S. lawsuits: legal expertsThe crash of Boeing Co's 737 MAX 8 passenger jet in Ethiopia raises the cha...
Read more »