November 5, 2019 / 6:01 PM / 2 months ago

Brazil's JBS shares plunge after request to annul plea bargain

SAO PAULO/BRASÍLIA, Nov 5 (Reuters) - Shares of Brazilian food processor JBS SA fell more than 5% in Sao Paulo on Tuesday after the country’s top prosecutor requested the annulment of plea bargain deals previously signed with the company’s executives.

Brazil’s top prosecutor Augusto Aras asked the Supreme Court that deals signed with executives, including the brothers Joesley and Wesley Batista, who are JBS controlling shareholders, be canceled, which could lead to both men losing immunity from a criminal legal action. (Reporting by Ricardo Brito Editing by Chizu Nomiyama)

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