Firm’s Efforts to Block JBS’s Planned IPO Featured in Law.com Article

Amy Guthrie, Law.com’s Latin America correspondent, has published a story on broad-based efforts by our client Mighty Earth and a variety of allies to halt JBS’s planned IPO.

Mighty Earth, alongside a bipartisan group of U.S. Senators led by Cory Booker (D-NJ) and including Senators Rubio (R-FL) and Hawley (R-MO), members of the U.S. Congress, as well as other non-profit environmental advocacy groups, have urged the SEC’s Division of Corporate Finance to carefully scrutinize the company’s repeatedly revised offering documents to ensure they tell the truth about its ugly history. The Senators’ letter is here.

Our firm has worked with Mighty Earth to file multiple submissions with the SEC, all of which shine a spotlight on JBS’s unlawful conduct, including misrepresentations and omissions about its indefensible environmental record. Working with both the Office of the Whistleblower and the Division of Corporate Finance, we aim to spur a formal investigation and an enforcement action against the company, as well to either halt the planned IPO or at minimum to force the company to come clean about its misconduct.

Guthrie’s article features several quotes from Kevin:

“This is an incredibly broad-based effort,” said Kevin Galbraith, a securities lawyer in New York who has been working to shine light on alleged misconduct and misrepresentations by JBS….

On behalf environmental watchdog group Mighty Earth, Galbraith wrote again in July to SEC Chief Counsel Michael Seaman and Senior Special and Division Director Deanna Virginio to advocate for greater scrutiny of JBS’s claims. “Unless these misstatements and omissions [in JBS’s latest Form F-4] are meaningfully addressed and corrected, potential investors will be misled. As such, we respectfully urge that the Division of Corporate Finance decline to declare the company’s registration statement effective,” he wrote.

We are proud to represent Mighty Earth and to coordinate with a broad swath of political leaders and environmental advocates in this effort to hold JBS accountable

If you are aware of other examples of companies misleading investors through “greenwashing” claims or other false or misleading statements, please contact a whistleblower attorney at The Galbraith Law Firm by emailing inquiry@galbraithlawfirm.com or calling 212.203.1249, for a free confidential consultation and evaluation of your potential whistleblower claim. Whistleblowers can be either company insiders or outside observers who have detected and documented corporate wrongdoing.