FRT Insights


Case Spotlight: BRF S.A.

CompanyBRF S.A.
ExchangeSão Paulo (SAO)
IndustryFood Processing
ClaimsCorruption, bribery, and securities violations
Relevant PeriodApril 4, 2013 - November 29, 2019
Statue of LimitationsMarch 17, 2020
Participation DeadlineFebruary 28, 2020


On March 17, 2017, BRF’s offices were raided by Brazilian Authorities following a multi-year investigation called “Operation Weak Flesh.” The investigation concluded that between 2012 and 2017, BRF bribed food regulators, inspectors and politicians to avoid food safety checks, unsanitary food practices and to falsify test results for safety practices in its industrial processes.

As a result of the raid, BRF’s share price fell from R$40.00 per share on March 16, 2017, to R$35.58 per share on March 22, 2017. On February 23, 2018, BRF disclosed that Operation Weak Flesh had caused a “very serious problem” for the company, and that disruptions in its production processes made it difficult to distribute products. In the wake of this revelation, BRF’s share price fell about 8%, from R$30.98 on February 22, 2018 to R$28.40 on February 23, 2018.

Soon after, on March 5, 2018, Brazilian Authorities arrested BRF’s former CEO and other executives on charges that they were of aware of the fraud and bribery activity. Following their arrests, BRF’s stock price fell from R$30.84 on March 2, 2018, to R$22.83 on March 29, 2018, a decrease of almost 43%, representing a total market capitalization loss of almost R$14 billion/US$4.05 billion.

DRRT is currently soliciting investors to join their recovery efforts.

The planned arbitration is separate from the U.S. securities class action filed against BRF in 2018 on behalf of investors who purchased the company’s American Depositary Receipts (ADRs). Participating in arbitration in Brazil will not preclude your recovery in the U.S. class action (and vice versa) as the proceedings are separate and cover different securities..


Shareholders are eligible to participate if they transacted in BRF S.A. shares from April 4, 2013 – November 29, 2019 and have at least $100,000 in eligible losses.

Arbitration proceedings in Brazil are private and confidential. As the opposing parties, the company and any other defendants will know your identity. However, there will be no public disclosure of your involvement absent a violation of the arbitration rules or an application to the court for some purpose. Should the latter occur, counsel will likely seek further confidentiality protection.

DRRT is proposing to represent investors on a fully-funded, risk free contingency basis. The firm will advance all associated costs and indemnify investors against all risks.


If investors decide to participate in arbitration they must provide DRRT with their transactional data to confirm eligibility and estimate losses. Please contact your FRT Representative or email us if you would like to discuss registration in this case.

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For more information on this case or FRT Opt-In Monitoring service, please contact us at


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About FRT


Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

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