GPM Announces The Filing Of A Securities Class Action On Behalf Of Centrais Elétricas Brasileiras S.A. – Eletrobras Investors

LOS ANGELES--(BUSINESS WIRE)--

Glancy Prongay & Murray LLP ("GPM") announces the filing of a class action lawsuit on behalf of investors of Centrais Elétricas Brasileiras S.A. - Eletrobras ("Eletrobras" or the "Company") EBR who purchased U.S. listed Eletrobras securities between February 10, 2014 to April 29, 2015, both dates inclusive (the "Class Period").

On April 29, 2015, Eletrobras announced that its Form 20-F will not be filed with the SEC within the required time period in order for the Company to further investigate claims that its officers had engaged in a long standing corruption and bribery scheme. The Company has since announced that it is planning an independent commission to oversee an investigation of possible corruption in projects where it is involved. Further news reports and Company announcements indicate that Electrobras may be implicated in a larger government corruption investigation that ensnared Petrobras, or Petroleo Brasileiro SA. On news of the various investigations, and alleged corruption, the Company's securities declined sharply in value, thereby injuring investors.

The complaint alleges that the Company and its officers violated securities laws by issuing misleading information to investors, and allegedly engaged in a corruption and graft scandal.

If you purchased Eletrobras securities during the Class Period you have until September 21, 2015 to file a motion for appointment as a lead plaintiff, if you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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