Today’s class action lawsuit revolves around claims that Aracruz Celulose misrepresented the nature and extent of their currency hedging program. This program is a way to reduce risk when U.S. dollars paid to Aracruz for future sales did not decline in value with respect to Brazilian reais during the course of a sale… the lawsuit is complicated to say the least. Court documents cite that Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) and § 78(o) were violated by the Aracruz Celulose hedging program. The lawsuit states that the hedges were larger and riskier than necessary and ended up causing financial distress to class members. Class members of the Aracruz Celulose S.A. Lawsuit are defined as anyone who PURCHASED ARACRUZ CELULOSE S.A. (“ARACRUZ”) AMERICAN DEPOSITARY RECEIPTS (“ADRs”) BETWEEN APRIL 7, 2008 AND OCTOBER 2, 2008. The defendants deny any actions of wrong doing but have agreed to settlement terms. To be a part of the lawsuit settlement you must file a claim for before September 30, 2013. Once your claim form has been submitted you should receive a confirmation receipt email within 10 days. If you do not receive this confirmation please email eclaim@gardencitygroup.com ASAP.
A fairness hearing will take place at United States District Court, 400 North Miami Avenue, Miami, FL 33128 on 07-01-13. Any questions about the lawsuit can be directed to 1 (800) 231-1815 or
Aracruz Celulose S.A. ADR Securities Litigation
c/o The Garden City Group, Inc.
Claims Administrator
P.O. Box 9349
Dublin, OH 43017-4249
