By Brazil Stock Guide – Vivara (VIVA3) director Icaro Borrello has paid R$ 300,000 to settle allegations of insider trading with Brazil’s securities regulator, CVM. The investigation stemmed from the purchase of 15,000 shares between July 16-24, 2024, for a total of R$ 347,530.
CVM claimed that Borrello used privileged information regarding the company’s Q2 2024 earnings, which were publicly disclosed on August 8, 2024, according to Estadão eInvestidor. This raised concerns that Borrello may have violated Brazilian securities laws regarding insider trading.
The federal prosecutor specialized in CVM matters indicated that there were no legal barriers to the settlement agreement, and the CVM’s Termo de Compromisso (settlement agreement) was accepted by both Borrello and the regulator. The settlement allows Borrello to avoid further legal consequences related to the case. allows Borrello to avoid further legal consequences related to the case.