Via Varejo shares rose as much as 4.9% to 10.49 reais after an investigation committee reported to the board of the company that evidence of
- Fraud involves manipulation of the company’s labor provision and improper deferral of asset write-offs and liabilities accounting
- Adjustments in 4Q19 results estimated at around 1.2b reais-1.4b reais in Q419 results, with an impact on equity between 800m reais and 940m reais
- Shares fell 3.1% on Thursday
- The investigation is related to the practices of the company’s former management and is part of the adjustment phase the company...