Milberg LLP Announces Its Investigation on Behalf of Certain Investors of Sadia S.A. -- SDA

• Press Release
• Source: Milberg LLP
• On Tuesday November 18, 2008, 3:06 pm EST

NEW YORK, NY--(MARKET WIRE)--Nov 18, 2008 -- The law firm of Milberg LLP is investigating possible illegal conduct as alleged in a proposed class action lawsuit filed in the United States District Court for the Southern District of New York on behalf of all investors who purchased Sadia S.A. ("Sadia" or the "Company") American Depository Receipts (ADRs) (NYSE:SDA - News) (BOVESPA: SDIA4) in and/or common stock between May 1, 2008 through September 26, 2008, inclusive (the "Class Period").

Related Quotes Symbol Price Change SDA 7.60 -0.10 {"s" : "sda","k" : "c10,l10,p20,t10","o" : "","j" : ""}

The lawsuit charges Sadia and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Sadia is a producer and marketer of food products and exports their products throughout the world.

According to the lawsuit, Sadia entered into undisclosed currency derivative contracts to purportedly hedge against the Company's U.S. dollar exposure. The Company characterized the amounts of these contracts as "nominal." However, these contracts violated Company policy in that they were far larger than necessary to hedge normal business operations and resulted in a loss of $365 million. As a result of Defendants' admission of violating Company policy regarding currency hedging, the American Depository Receipts of Sadia S.A. closed at $9.50 per share, down from the previous day's close of $15.27, a decline of approximately 38%.

If you purchased the American Depository Receipts (ADRs) and/or common stock of Sadia from May 1, 2008 through September 26, 2008 inclusive (the "Class Period"), you may move the court no later than January 5, 2009, and request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. You may retain Milberg LLP, or other attorneys, to serve as your counsel in this action.

Milberg LLP has been representing individual and institutional investors for nearly 40 years and serves as lead counsel in federal and state courts throughout the United States. Please visit the Milberg website (http://www.milberg.com) for more information about the firm. If you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact the following attorneys:

 
Lori G. Feldman
Andrei Rado
Peter Safirstein
Milberg LLP
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
Email: contactus@milberg.com

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