Owners of Meatpacker JBS To Pay $ 280M Fine Over Foreign Bribery Charges

October 16, 2020 SYLVAN LANE, The Hill

The Brazilian parent company of meatpacking conglomerate JBS SA has agreed to pay more than $ 280 million in fines to the Justice Department and Securities and Exchange Commission (SEC) to settle charges it violated federal anti-corruption laws.

JBS Posts World Best Meat Rally With Scandal in Rear-View Mirror

The world’s largest meat producer and its Pilgrim’s Pride Corp. unit both gained about 9 percent in the past five days, outperforming peers. JBS shares are at three-year highs and its bond spreads are the tightest versus rival Tyson Foods Inc. since March 2017 as demand prospects brighten and the company moves past a 2017 corruption scandal.