Shareholders filed a class action lawsuit against Brazil’s Embraer SA in New York, alleging the world third-largest commercial plane maker inflated its share price over a four-year period, it said in a securities filing on Wednesday.
The shareholder securities fraud lawsuit was filed on Monday night in the US District Court in Manhattan against Embraer, its former chief executive Frederico Curado and the current chief financial officer José de Almeida Filippo.
The suit alleges the company concealed its ties to the bribing of Dominican Republic officials to secure contracts to sell military aircraft, culminating in last month’s decision to set aside US$200 million to settle a corruption probe with US authorities, according to documents seen by Reuters.
The lawsuit was brought on behalf of investors in Embraer’s American Depositary receipts. Embraer shares fell 2 per cent in early trading in Sao Paulo after the company’s filing.
PAL-V has signed a Memorandum of Understanding with AVION, a specialist in advanced flight training devices, and FLYVE, a developer of FlyDrive ecosystems for professional and government operator...
FL Technics Indonesia, the first MRO in Indonesia to be appointed as a GE Aerospace avionics support partner, has signed a service support agreement with GE Aerospace covering Boeing 737 and Airbus A3...
For the fourth consecutive year, Corsair is reaffirming its commitment to the fight against breast cancer by partnering with the association "Les Hôtesses de l’Air cont...
UH-60 Black Hawk helicopters operated by Helicopter Alliance played a vital role in combating wildfires across Central and Southern Europe during the aerial firefighting season that has now concluded....
