By Brazil Stock Guide – Americanas (AMER3) said it has received a new corporate liability claim valued at R$12.8 billion while undergoing court-supervised restructuring, reviving allegations linked to the disclosure of allegedly fraudulent financial statements and expanding potential liability to its controlling shareholders.
The company disclosed that the new proceeding was filed by the same individual investors who had previously withdrawn from two earlier arbitration cases. The provisional value of the claim was set at R$12.8 billion and the case is being processed under arbitration rules. Americanas did not provide an estimate of potential financial impact at this stage.
In addition to the retailer, the defendants include Cathos Holding, BRC S.A.R.L., Cedar Trade LLC, and S-Velame S.A.R.L., as well as about 20 individuals. Among those named are Jorge Paulo Lemann, Carlos Alberto da Veiga Sicupira, and Marcel Telles, alongside family members linked to the controlling shareholder group.
According to the filing, the investors are seeking compensation for losses they allege were caused by the dissemination of misleading financial statements, which they argue inflated the price of Americanas shares between at least 2013 and the end of 2023. The claim asks the arbitral tribunal to recognize the joint and several liability of the company and its main shareholders for the alleged damages.
The request also seeks the restitution of purported undue benefits received by the holding companies and the controlling shareholders, as well as a formal acknowledgment of their responsibility for compensating the individual investors involved. Americanas said it will contest the allegations through the appropriate legal channels, while the arbitration adds another layer of uncertainty to one of Brazil’s most consequential corporate fraud cases.