JBS shares are expected to begin trading on the NYSE
Trading in New York is a long-held goal for JBS, which was founded 72 years ago and is now one of the world's largest meat companies. Half of its annual revenue comes from the U.S., where it has more than 72,000 employees. JBS is America's top beef producer and its second-largest producer of poultry and pork.
JBS's minority shareholders voted last month to approve the company's plan to list its shares both in Sao Paulo and New York, casting aside opposition from environmental groups, U.S. lawmakers and others who noted JBS' record of corruption, monopolistic behavior and environmental destruction.
JBS said a dual listing would give it broader access to investors and more competitive interest rates, which would help it finance its growth. It has also said a U.S. listing would subject it to more oversight from regulators. The U.S. Securities and Exchange Commission approved JBS's planned listing last month.
Still, the proposed listing has received significant pushback. Earlier this week, Mighty Earth, an environmental group, said it sent a letter to the NYSE board urging it to decline the listing. Mighty Earth contends that JBS is illegally profiting from deforested land in Brazil.
Glass Lewis, an influential independent investor advisory firm, was also among those recommending that JBS's shareholders reject the planned listing.
In its report, Glass Lewis said the recent return of brothers Joesley and Wesley Batista to the JBS board should concern investors. The brothers, who are the sons of JBS' founder, were briefly jailed in Brazil in 2017 on bribery and corruption charges.
Glass Lewis also objected to the company's plan for dual share classes, which give the Batistas and other controlling shareholders more voting power.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBC
27 minutes ago
- CBC
Federal judge denies U.S. Justice Dept. request to unseal Epstein grand jury transcripts
A federal U.S. judge who presided over the sex trafficking case against financier Jeffrey Epstein has joined two other judges in rejecting the U.S. government's request to unseal grand jury transcripts related to the decades-long sexual abuse suffered by girls and young women who fell into Epstein's orbit. The ruling Wednesday by Judge Richard Berman in Manhattan came after the judge presiding over the case against British socialite Ghislaine Maxwell, Epstein's former girlfriend, also turned down the government's request. Barring reversal on appeal, Berman's decision forecloses the possibility of grand jury testimony being released now that three judges have reached the same conclusion. A federal judge in Florida declined to release grand jury documents from an investigation there in 2005 and 2007. The rulings are a collective repudiation of the Justice Department's effort to divert attention away from its stated refusal to release a massive trove of records in its possession and make clear that the still-sealed court documents contain none of the answers likely to satisfy the immense public interest in the case. Trump called for transcripts' release U.S. President Donald Trump had called for the release of transcripts amid rumours and criticism about his long-ago involvement with Epstein. During last year's presidential campaign, Trump promised to release files related to Epstein, but he was met with criticism — including from many of his own supporters — when the small number of records released earlier this year by his Justice Department lacked new revelations. WATCH | Trump calls for release of grand jury testimony: Trump calls for release of Epstein grand jury testimony 1 month ago A Justice Department spokesperson declined to comment on Wednesday. Berman said a "significant and compelling reason" to reject the government's request was that the information contained in the Epstein grand jury transcripts "pales in comparison to the Epstein investigative information and materials in the hands of the Department of Justice." He wrote that the government's 100,000 pages of Epstein files and materials "dwarf the 70-odd pages of Epstein grand jury materials." "The Government is the logical party to make comprehensive disclosure to the public of the Epstein Files," Berman wrote in an apparent reference to the Justice Department's refusal to release additional records on its own while simultaneously moving to unseal grand jury transcripts. "By comparison," Berman added, "the instant grand jury motion appears to be a 'diversion' from the breadth and scope of the Epstein files in the Government's possession. The grand jury testimony is merely a hearsay snippet of Jeffrey Epstein's alleged conduct." The Justice Department had informed Berman that the only witness to testify before the Epstein grand jury was an FBI agent who, the judge noted, "had no direct knowledge of the facts of the case and whose testimony was mostly hearsay." The agent testified over two days, on June 18, 2019, and July 2, 2019. The rest of the grand jury presentation consisted of a PowerPoint slideshow shown during the June 18 session and a call log shown during the July 2 session, which ended with grand jurors voting to indict Epstein. Both of those will also remain sealed, Berman ruled. Maxwell case a renewed public focus Ghislaine Maxwell is serving a 20-year prison sentence after her conviction on sex trafficking charges for helping Epstein sexually abuse girls and young women. She was recently transferred from a prison in Florida to a prison camp in Texas. Epstein died in jail awaiting trial in 2019. Maxwell's case has been the subject of heightened public focus since an outcry over the Justice Department's statement last month saying it would not be releasing any additional documents from the Epstein sex trafficking investigation. The decision infuriated online sleuths, conspiracy theorists and elements of Trump's base who had hoped to see proof of a government cover-up. Since then, officials in Trump's administration have tried to cast themselves as promoting transparency in the case, including by requesting from courts the unsealing of grand jury transcripts. Meanwhile, Maxwell was interviewed at a Florida courthouse weeks ago by U.S. Deputy Attorney General Todd Blanche, and the U.S. House Oversight Committee had also said that it wanted to speak with Maxwell. Her lawyers said they would be open to an interview but only if the panel were to ensure immunity from prosecution. In a letter to Maxwell's lawyers, Rep. James Comer, the committee chair, wrote that the committee was willing to delay the deposition until after the resolution of Maxwell's appeal to the U.S. Supreme Court. That appeal is expected to be resolved in late September. Comer wrote that while Maxwell's testimony was "vital" to the Republican-led investigation into Epstein, the committee would not provide immunity or any questions in advance of her testimony, as was requested by her team.
Globe and Mail
an hour ago
- Globe and Mail
Deadline Approaching: CTO Realty Growth, Inc. (CTO) Investors Who Lost Money Urged To Contact Law Offices of Howard G. Smith
Law Offices of Howard G. Smith reminds investors of the upcoming deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased CTO Realty Growth, Inc. ('CTO' or the 'Company') (NYSE: CTO) securities between February 18, 2021 and June 24, 2025, inclusive (the 'Class Period'). IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN CTO REALTY GROWTH, INC. (CTO), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT. Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@ by telephone at (215) 638-4847 or visit our website at What Happened? On June 25, 2025, Wolfpack Research published a report alleging, among other things, that CTO is 'engag[ing] in accounting shenanigans like using a sham loan to cover up a top tenant's failure.' Specifically, the report claims that the Company's management 'used a sham loan to hide the collapse of a top tenant from shareholders,' 'obfuscates its impotence by excluding recurring capex from [Adjusted Funds From Operation ('AFFO')],' and 'makes more money for themselves sabotaging the future of the company by overpaying for properties.' On this news, CTO's stock price fell $0.98, or 5.4%, to close at $17.10 per share on June 25, 2025, thereby injuring investors. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) CTO's dividends were less sustainable than Defendants had led investors to believe; (2) the Company used deceptive and unsustainable practices to artificially inflate its AFFO and overstate the true profitability of its Ashford Lane property; (3) accordingly, CTO's business and/or financial prospects were overstated; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired CTO securities during the Class Period, you may move the Court no later than October 7, 2025 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. Contact Us To Participate or Learn More: If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, Telephone: (215) 638-4847 Email: howardsmith@ Visit our website at: To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
CBC
an hour ago
- CBC
U.S. sanctions Canadian judge on International Criminal Court
Kimberly Prost, a Canadian judge on the International Criminal Court, has been slapped with sanctions by the Trump administration for ruling to authorize the ICC's investigation into alleged war crimes and crimes against humanity by U.S. personnel in Afghanistan. The sanctions come as the U.S. State Department unleashes a new wave of restrictions against judges it said were instrumental in efforts to prosecute Americans and Israelis.
