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Shareholder Class Action Filed Against Embraer S.A

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Embraer S.A. (“Embraer”) (NYSE: ERJ) American Depositary Receipts (“ADRs”) between April 16, 2012 and July 28, 2016, inclusive (the “Class Period”).

Embraer investors may receive additional information about the case by clicking the link "Join this Class Action" above.      

        

According to the complaint, Embraer designs, develops, manufactures, and sells aircraft and systems in Brazil, North America, Latin America, the Asia-Pacific region, Europe, and internationally.

The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (i) the company had paid bribes to officials in the Dominican Republic to secure contracts for the sale of aircraft; (ii) Embraer’s President and Chief Executive Officer (“CEO”), Defendant Frederico Pinheiro Fleury Curado (“Curado”) was aware of the bribery scheme; (iii) the foreseeable consequences of the foregoing conduct would cost Embraer hundreds of millions of dollars; and (iv) as a result of the foregoing, the defendants’ statements about Embraer’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

According to the complaint, on November 1, 2013, after the market closed, The Wall Street Journal reported that Embraer was under investigation by the U.S. and Brazilian governments concerning bribery of Dominican Republic officials to secure a contract for the sale of military aircraft.  Following this news, Embraer’s ADRs fell $0.17, or 0.57%, to close at $29.55 on November 4, 2013.

On September 23, 2014, The Wall Street Journal reported that Brazilian authorities had filed bribery charges against eight Embraer employees, claiming that they had bribed officials in the Dominican Republic to secure a $92 million contract.  Following this news, Embraer’s ADRs fell $0.26, or 0.68%, to close at $38.25 on September 24, 2014.

On March 16, 2016, after the market closed, various media outlets reported that Elio Moti Sonnenfeld, a sales consultant who purportedly paid bribes on behalf of Embraer, had told Brazilian prosecutors that he believed the company’s top managers, including Defendant Curado, knew of the illicit payments made in connection with the Dominican Republic sales. Then, on June 9, 2016, after the market closed, Embraer announced that Defendant Curado was stepping down as CEO after 32 years with the company.  Following this news, Embraer’s ADRs fell $1.18, or 5.44%, to close at $20.51 on June 10, 2016.

Finally, on July 29, 2016, Embraer filed a Form 6-K with the SEC, stating, in relevant part, that “Embraer is recognizing a US$ 200 million loss contingency in the quarter ended June 30, 2016.”  Following this news, Embraer’s ADR price fell $2.93, or 13.82%, to close at $18.27 on July 29, 2016.

If you are a member of the class described above, you may no later than October 7, 2016 move the Court to serve as lead plaintiff of the class, if you so choose. 


 
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for Embraer S.A. (“Embraer”) (NYSE: ERJ) American Depositary Receipts (“ADRs”) between April 16, 2012 and July 28, 2016, inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Embraer S.A prior to the class period?
Are you a current or former employee of Embraer S.A?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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