Liminar suspends assembly that would vote for Embraer sale

Decision was in response to action brought by Union

The Embraer shareholders’ meeting, which would put the company’s sale to Boeing in a vote, was suspended due to an injunction issued on Friday (22) by Judge Victorio Giuzio Neto, of the 24th Federal Court of São Paulo.

The decision meets the request of the unions of metallurgists of São José dos Campos, Botucatu and Araraquara. In its decision, the judge says that in the absence of information to shareholders, voting may be flawed. The meeting was scheduled for next Tuesday (26).

The judge also pointed out that the lack of loyalty for omission or misrepresentation of relevant information by Embraer may entail the obligation of indemnification. In addition, the judge states that decision-making without regard to its consequences may result in the unemployment of thousands of workers and bankruptcy of suppliers.

“The injunction confirms the facts denounced by the Union about the risks generated by the sale of Embraer, which has to be taken into account by President Bolsonaro, who has the duty to veto the sale,” says union director Herbert Claros.