Investigation Name:
Investigation into ALL - America Latina Logistica's Activities in Brazil
Trend:
None
Type of investigation:
Internal
Whistleblower:
Unknown
Summary
Cosan Limited (Cosan), a publicly listed company, is a Brazilian conglomerate producer of bioethanol, sugar and energy. Its stock is traded on the NYSE.
In its 20-F filed on April 26, 2017, Cosan disclosed that one of its subsidiaries, Rumo S.A. (previously known as Rumo Logistica Operadora Multimodal S.A.), had become aware of press reports in 2016 alleging that improper payments to government officials had been made by former employees of ALL – America Latina Logistica S.A., a company that was subsequently acquired by Rumo. Upon learning of the allegations, Rumo hired external legal counsel and consultants to conduct an internal investigation.
It appears that Cosan Limited became Cosan S.A. sometime prior to the filing of its annual report in 2021. The company shares continued to be traded on the NYSE, but the ticker changed from CZZ to CSAN. It also appears that the change coincided with a change in the jurisdiction of incorporation from Bermuda to Brazil.
In its 20-F filed on April 30, 2021, Cosan said it had completed its internal investigation in July 2016 and submitted a report to the Brazilian Federal Prosecutor's Office, which apparently then opened its own investigation. It does not appear that the DOJ or SEC have opened investigations into Cosan at this time.
However, since this investigation appears to be nominally ongoing, the Clearinghouse will continue to monitor it for further developments.
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