Overview
- The CVM’s sanctioning unit closed inquiry 19957.000952/2023-57 and concluded the accounting irregularities were a coordinated scheme to distort results and stock prices.
- Formal administrative accusations were initiated against Americanas for misleading disclosures, while numerous former executives, including ex-CEO Miguel Gutierrez, were charged with price manipulation and other violations.
- Two new inquiries opened on January 15 will examine whether board and fiscal council members at Americanas, B2W and Lojas Americanas met their fiduciary duties.
- A parallel inquiry will scrutinize banks, their administrators and market intermediaries involved in the group’s commercial dealings and securities issuances.
- Separate probes into potential insider trading and PwC’s 2021 audit remain underway, with the CVM coordinating with the Central Bank, the Federal Public Ministry and the Federal Police as the accused prepare their defenses.