Block the JBS IPO

Published May 2, 2025.

The Brazilian meatpacking giant JBS was approved by the Securities and Exchange Commission to file for an IPO on the NYSE on April 23, 2025. SEC Commissioner Paul Atkins approved the registration only two days after being sworn in on April 21, 2025. The SEC rushed to approve the IPO only a week after documents revealed that Pilgrim's Pride, a JBS subsidiary, was the largest corporate donor to President Donald Trump's campaign at $5,000,000.

It is extremely important that you contact the SEC to tell them to block the JBS IPO. You can use the following talking points.

1). JBS has an oligopoly on beef packing and has used their power to fix prices and destroy the American ranching industry. JBS simultaneously undercut ranches and overcharged retailers. This has resulted in small, family owned American ranches closing for good and American consumers paying higher prices.

2). The Batista Brothers were previously CEO and Chairman of JBS. They were found guilty of insider trading and bribing 1,900 government officials. They served prison sentences and settled with the US DOJ for $256 million in 2020. The Batistas still own the largest stake of JBS at 48.34% through their investment vehicles J&F Investimentos S.A and JBS Participações S.A. The Batistas are back on the JBS board as well.

3). JBS has continually mislead and misguided shareholders and stakeholders. Their past crimes and scandals include but are not limited to, bribing government officials, knowingly selling rotten meat, fixing prices, using trafficked migrant child labor in facilities, deforesting the Amazon rainforest, and using slave like conditions in their supply chain.

JBS poses grave threats to American farmers, consumers, and investors and should not be allowed to offer shares on the NYSE. Doing so would consolidate their power over the American meat industry and cripple small ranchers.

SEC Contacts.

  • Chairman Paul S. Atkins 202-551-2100 Chairman@sec.gov
  • Commissioner Hester M. Peirce 202-551-5080 CommissionerPeirce@sec.gov
  • Commissioner Caroline A. Crenshaw 202-551-5070 CommissionerCrenshaw@sec.gov
  • Commissioner Mark T. Uyeda 202-551-2700 CommissionerUyeda@sec.gov
  • SEC Office of Inspector General Hotline (833)-732-6441

JBS will vote on the NYSE IPO filing on May 23rd. If they pass it, they will start to offer shares in June 2025.

JBS Brands

https://sustainability2019.jbssa.com/chapters/who-we-are/our-brands/

Sources

https://ri.jbs.com.br/en/esg-investors/corporate-governance/ownership-and-corporate/

https://jbsfoodsgroup.com/articles/jbs-completes-sec-registration-and-calls-shareholders-meeting-to-vote-on-dual-listing 

https://insideclimatenews.org/news/25042025/jbs-brazil-meet-company-gets-approval-for-new-york-stock-exchange/ 

https://docquery.fec.gov/cgi-bin/forms/C00894162/1889684/f132 

https://news.mongabay.com/2024/10/jbs-broke-its-own-rules-while-buying-cattle-from-deforested-areas-in-pantanal/#:~:text=Of%20the%20total%20deforestation%20linked,by%20AidEnvironment%20from%202019%2D2023. 

https://mightyearth.org/article/jbs-rap-sheet-exposes-meat-giants-appalling-track-record/ 

https://www.justice.gov/archives/opa/pr/jf-investimentos-sa-pleads-guilty-and-agrees-pay-over-256-million-resolve-criminal-foreign

https://www.reuters.com/sustainability/brazilian-meatpacker-jbs-says-net-zero-emissions-pledge-was-never-promise-2025-01-15/

https://www.reuters.com/world/americas/brazil-supreme-court-suspends-2-billion-fine-jbs-owner-2023-12-20/

https://www.fooddive.com/news/DHS-federal-investigation-JBS-child-labor-trafficking/640929/

https://www.reuters.com/legal/litigation/jbs-pay-835-million-latest-beef-price-fixing-settlement-2025-02-03/

https://www.theguardian.com/environment/2021/jan/06/brazilian-beef-farms-used-workers-kept-in-conditions-similar-to-slavery

https://www.bbc.com/news/world-latin-america-39311336

https://www.reuters.com/article/business/brazil-police-formally-accuse-jbs-batista-brothers-of-insider-trading-idUSKCN1BW2JL/

https://www.reuters.com/article/business/energy/parent-of-brazils-jbs-pleads-guilty-to-us-foreign-bribery-charges-idUSKBN26Z2FY/

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