BRF S.A. Securities Settlement
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WELCOME TO THE BRF S.A. SECURITIES SETTLEMENT

This website has been established to provide general information related to the proposed settlement of the lawsuit referred to as In re BRF S.A.Securities Litigation, Civil Action No.1:18-cv-02213-PKC (the “Litigation”), which is pending before the Honorable P. Kevin Castel in the United States District Court for the Southern District of New York (the “Court”). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") filed on May 8, 2020, which can be found and downloaded by clicking on the Case Documents tab above.

The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

This is a securities class action brought against BRF S.A. ("BRF" or "the Company") and certain of its officers and directors (collectively, "Defendants") for alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") on behalf of all persons who purchased or otherwise acquired BRF American Depository Receipts ("ADRs") during the period between April 4, 2013 and March 5, 2018, inclusive.  Lead Plaintiff City of Birmingham Retirement and Relief System alleges Defendants violated the Exchange Act by reason of material misrepresentations and omissions regarding the Company's business and operations. Specifically, Lead Plaintiff alleges Defendants made materially false and misleading statements and/or failed to disclose adverse information, which caused the price of the Company's ADRs to trade at artificially inflated prices, until the market learned of the false and misleading statements or omissions, and the Company's ADR price significantly declined.  

If you purchased or otherwise acquired BRF ADRs during the Class Period, you are a Class Member. Excluded from the Class are: (i) Defendants; (ii) members of the immediate families of each Individual Defendant; (iii) any entity in which any Defendant has a controlling interest; (iv) the officers and directors of BRF during the Class Period; and (v) the legal representatives, heirs, successors or assigns of any such excluded party. Also excluded from the Class are those Persons who would otherwise be Class Members but who timely and validly exclude themselves therefrom.

WHAT DOES THE SETTLEMENT PROVIDE?

The proposed Settlement will create a cash settlement fund of $40,000,000 (the “Settlement Fund”), plus any interest that may accrue thereon less certain deductions.

The Settlement Fund, subject to deduction for, among other things, costs of class notice and administration and certain taxes and tax-related expenses, as well as attorneys’ fees and expenses, and the amount to Lead Plaintiff in connection with its representation of the Class, as approved by the Court, will be available for distribution to Class Members. Your recovery from this fund will depend on a number of variables, including the number of BRF ADRs you purchased or acquired, the timing of your purchases, acquisitions, and any sales, and how many other Class Members make claims. 

ADDITIONAL INFORMATION

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A PROOF OF CLAIM

The only way to be eligible to receive a payment from the Settlement.  Proof of Claim forms must be postmarked or submitted online on or before October 3, 2020.

EXCLUDE YOURSELF

Get no payment.  This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Released Persons about the legal claims being resolved by this Settlement.  Should you elect to exclude yourself from the Class you should understand that Defendants and the other Released Defendant Parties will have the right to assert any and all defenses they may have to any claims that you may seek to assert, including, without limitation, the defense that such claims are untimely under applicable statutes of limitations and statutes of repose. Exclusions must be postmarked on or before October 2, 2020.

OBJECT 

Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and expenses.  You will still be a Member of the Class.  Objections must be received by the Court and counsel on or before October 2, 2020.  If you submit a written objection, you may (but do not have to) attend the hearing.

GO TO THE HEARING ON OCTOBER 23, 2020

Ask to speak in Court about the fairness of the Settlement.  Requests to speak must be received by the Court and counsel on or before October 2, 2020.

 DO NOTHING 

Receive no payment. You will, however, still be a Member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation.

 

IMPORTANT DATES AND DEADLINES

Submit Proof of Claim

October 3, 2020

Request Exclusion

October 2, 2020

Submit Written Objection

October 2, 2020

Submit Notice of Intention to Appear   

October 2, 2020

Settlement Hearing 

October 23, 2020, at 2:00 p.m. EST