Directors rebut Rossi and say that calling a Special Shareholders’ Meeting is illegal

The meeting called by Rossi Residencial to vote on suspending the political rights of one of its largest shareholders, billionaire Silvio Tini, exposed the division within the board of directors. Three of the five board members—the only ones outside the founding family—pushed back against the proposal, calling the meeting “entirely illegal.”

 

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This newsletter provides information about legal developments in Brazil to clients and members of Cescon, Barrieu, Flesch & Barreto Advogados. The content included herein is not meant to provide legal advice with respect to any specific matter. We do not undertake to update, supplement or modify the information contained herein.

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