Brazilian Meatpacker BRF Settles Shareholder Suit For $40M

Law360 (May 11, 2020, 4:15 PM EDT) -- Brazilian meat and food processing giant BRF SA has reached a $40 million settlement to resolve a stock-drop suit claiming it engaged in a widespread bribery scheme to conceal unsanitary practices at its meatpacking facilities.

The settlement put before a New York federal judge on Friday includes no admission or finding of wrongdoing on behalf of BRF, which had been accused of engaging in an "unprecedented and massive case of food fraud" including bribery of Brazilian politicians, falsification of laboratory test results and improper use of additives and chemicals.

The company's alleged misconduct resulted in raids of its offices by Brazilian...

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