NYSE
ERJ

Embraer S.A.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Embraer S.A. (NYSE: ERJ)

Rigrodsky & Long, P.A. announces that a complaint (the “Complaint”) has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased the American Depository Receipts (“ADRs”) of Embraer S.A. (“Embraer” or the “Company”) (NYSE: ERJ) between April 16, 2012 and July 28, 2016, inclusive (the “Class Period”).

The Complaint alleges that the Company and certain of its officers and directors (“Defendants”) violated the Securities Exchange Act of 1934 by making materially false and misleading statements, and omitting material facts, about Embraer’s business, operations, and prospects.

According to the Complaint, Defendants failed to disclose an illicit bribery scheme in which Embraer made unlawful payments to officials in the Dominican Republic in exchange for contracts for the sale of the Company’s aircraft.  The United States Securities and Exchange Commission (“SEC”), which initiated an investigation of Embraer for possible violations of the U.S. Foreign Corrupt Practices Act (“FCPA”), provided evidence to Brazilian law enforcement.  Thereafter, Brazilian authorities filed criminal bribery charges against eight of Embraer’s former executives and directors and an Embraer sales consultant in September 2014.  That consultant, who admitted to the bribery on March 16, 2016, stated that Federico Pinheiro Fleury Curado, Embraer’s CEO, as well as other top management knew of the illicit bribery scheme.

On June 9, 2016, Embraer announced that it would replace its CEO in July 2016, and the price of Embraer’s ADRs fell more than 5%, to $20.51.  On July 29, 2016, Embraer reported that it had made a $200 million loss contingency based on its negotiations with U.S. officials conducting the FCPA probe, which contributed to the Company’s quarterly loss of $99.4 million. Based on this news, Embraer ADRs fell almost 14% to close at $18.27.

If you wish to serve as lead plaintiff, you must move the Court no later than October 7, 2016.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

If you suffered a loss in Embraer and would like to obtain additional information, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242, or by e-mail at info@rl-legal.com.

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