Lessons From the Dismissal of the Embraer Securities Fraud Class Action

A federal court’s fatal blow to a securities fraud class-action suit based on Embraer’s 2016 $200-million FCPA enforcement action provides a roadmap for public disclosures that minimize collateral liability from FCPA cases. This article analyzes the plaintiffs’ allegations and the court’s reasoning and provides insight on the decision from Dechert partner Mauricio A. España. See “A Guide to Disclosing Corruption Investigations in SEC Filings (Part One of Four)” (May 1, 2013); Part Two (May 15, 2013); Part Three (May 29, 2013); and Part Four (Jun. 12, 2013).

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