Pilgrim’s Pride Corp. has announced that brothers Wesley and Joesley Batista will join the Board of the company.
The move follows their acquittal on a charge of insider trading alleged by the CVN the authority in Brazil regulating the stock market. Concurrently the Supreme Court of Brazil has suspended a $2.0 billion fine imposed on the holding company J&F relating to a leniency agreement in 2017.
It is the intent of J&F Investimentos, the controlling entity of JBS S.A. to seek a NYSE listing. This has engendered opposition in Congress and also from consumer and investment groups.