A group of lawmakers recently penned the Securities and Exchange Commission (SEC) to consider the risk behind listing JBS on the New York Stock Exchange.
The SEC is currently considering the company’s proposal to pursue an initial public offering.
“We urge the SEC to protect the integrity of U.S. capital markets and the legal rights of U.S. investors by exposing the risks that JBS poses to potential shareholders, including its track record of corruption, human rights abuses, monopolization of the meatpacking market, as well as environmental risks,” the letter read.
The senators noted the company’s “extensive international corruption record” and “bribery scheme” by JBS owners to acquire Pilgrim’s Pride in 2009.
“Approval of JBS’ proposed listing would subject U.S. investors to risk from a company with a history of blatant, systemic corruption, and further entrench its monopoly power and embolden its monopoly practices,” they concluded.
