LOS ANGELES -- (Business Wire)
Glancy Prongay & Murray LLP (“GPM”) announces that it is investigating
potential claims on behalf of investors of Elétricas Brasileiras S.A. –
Eletrobras (“Eletrobras” or “the Company”) (NYSE:EBR) securities. The
investigation focuses on whether the Company and its officers violated
securities laws by issuing misleading information to investors, and
allegedly engaged in a corruption and graft scandal.
On April 29, 2015, Eletrobras announced that its Form 20-F will not be
filed with the SEC within the required time period in order for the
Company to further investigate claims that its officers had engaged in a
long standing corruption and bribery scheme. The Company has since
announced that it is planning an independent commission to oversee an
investigation of possible corruption in projects where it is involved.
Further news reports and Company announcements indicate that Eletrobras
may be implicated in a larger government corruption investigation that
ensnared Petrobras, or Petroleo Brasileiro SA. On news of the various
investigations and alleged corruption, the Company’s securities declined
sharply in value, thereby injuring investors.
If you purchased or otherwise acquired Eletrobras securities, have
information or would like to learn more about these claims, or have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Casey Sadler, Esquire, of GPM,
1925 Century Park East, Suite 2100, Los Angeles, California 90067; at
310-201-9150, Toll-Free at 888-773-9224; by email to shareholders@glancylaw.com;
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150902006547/en/
Contacts:
Glancy Prongay & Murray LLP, Los Angeles
Casey Sadler,
310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
Source: Glancy Prongay & Murray LLP
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