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JBS Considers Legal Action Against Oppenheimer For Defamation and Slander

27 August 2013

BRAZIL - Brazilian meat processing giant JBS is considering legal action against Oppenheimer Funds Inc., for the recent repeated dissemination of false information in the press regarding the Company’s rental of assets of Doux Frangosul.

The Company said that any attempt to associate the rental of these assets with an acquisition is both false and misleading.

JBS said that as clearly disclosed to the market, JBS did not acquire the assets of Doux Frangosul.

“The company only rented the facilities in question,” company statement said.

“If these facilities were left idle, they would have eventually been handed over to creditors in a lengthy legal process.

“ JBS, by keeping the plants operational, has prevented the loss of thousands of jobs and the resultant negative economic impact to local communities.

“Oppenheimer is free to take any and all measures permitted by the legal system to recover their investment.

“The rental of the Doux Frangosul plants by JBS does not preclude or jeopardize any course of legal action by Oppenheimer to protect its rights.

“However, any attempt on the part of Oppenheimer to hold JBS responsible for debts assumed by Doux Frangosul is evidence of a profound lack of knowledge of the basic principles of the legal system and represents a crude misinterpretation of the facts. JBS will contest these actions and defend its rights in a vigorous manner.

“Finally, JBS categorically states that absolutely no one from the government or any state agency, Brazilian or other, has any role in the management of the Company.”

TheMeatSite News Desk

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