Investors bring action against CCR at Arbitration Chamber

Toll road concessionaire CCR informed the market that it received a notification from the B3’s Arbitration Chamber on June 17. The arbitration proceeding was filed by Toro Bravo Fundo de Investimentos Multimercado. Click here to read CCR’s material fact.

On April 12, Amec published a notice to the market (available here) warning minority investors about the need of reflecting on the matter in question as the payment of compensations worth millions to employees involved in corruption cases could eventually create a moral hazard – situation in which one of the parties have an incentive (or is paid compensation) to act inappropriately.

Amec also regretted that the company had not considered nominations from institutional investors to renew its board of directors and opted to maintain members that have been sitting in the board for more than 10 years – exactly those who were responsible for supervising the management board during the period the alleged corruption cases took place.

In the notice, the association also stated that it intends to engage in a dialogue with the Public Prosecutor’s Office to analyze the long-term impacts of the decisions taken in the sphere of corruption investigations on the capital market.