Fifteen U.S. Senators Write to SEC to Express Concern over JBS’s Planned NYSE IPO

Fifteen U.S. Senators sent a letter to U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler expressing serious concerns about JBS S.A.’s upcoming initial public offering on the New York Stock Exchange. Citing its “track record of corruption, human rights abuses, monopolization of the meatpacking market, as well as environmental risks,” the senators argue that “[a]pproval 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.”