KSF Appointed Lead Counsel in Eletrobas Securities Litigation

On October 2, 2015, the Hon. John G. Koeltl of the United States District Court for the Southern District of New York entered an Order appointing KSF as lead counsel for the class in the Eletrobras Securities Litigation, Case No. 15-cv-5754-JGK. This matter involves one of the largest kickback corruption schemes in Brazilian history. The complaint alleges that, throughout the Class Period (August 17, 2010 – June 24, 2015), Defendants made materially false and misleading statements to investors concerning the award of contracts for multi-billion dollar construction projects controlled by Eletrobras and its subsidiaries. The Complaint alleges that the award of those contracts was principally the result of bribery and widespread corporate corruption by the Company and the Individual Defendants.