SAO PAULO (Reuters) - The controlling shareholders of Brazil’s JBS SA (JBSS3.SA), the world’s largest meatpacker, will face trial for alleged insider trading and market manipulation, a federal court confirmed on Monday.
Joesley and Wesley Batista were charged last week for carrying out stock and foreign exchange transactions based on knowledge of their plea deal in a corruption case.
Prosecutors say the Batistas saved 138 million reais ($43 million) by selling JBS shares before news of the plea deal broke. Their testimony led to corruption charges against President Michel Temer, whom they say arranged for millions in political bribes.
($1 = 3.17 reais)
Reporting by Eduardo Simoes; Editing by Sandra Maler