The Brazil Securities Commission (CVM) announced it will hold a judgment session on 25 November at 15:00 for Administrative Sanctioning Proceeding (PAS) 19957.013886/2022-02, which examines potential liability for alleged price manipulation, fraudulent transactions and non-equitable practices. The proceeding concerns Cortel Holding S.A. and the individuals Roberto Coutinho Schumann, Priscila Oliveira Gomes and Marcio Coutinho Schumann. The session will be open to the public and held in person at the CVM’s headquarters auditorium in Rio de Janeiro, with the option to follow by videoconference; if none of the defendants or their legal representatives indicates an intention to participate, it will be conducted in restricted form via electronic voting. A report prepared by Director Marina Copola has been made available, with a note that it may be amended after the judgment session.
Brazil Securities Commission (CVM) 2025-11-10
Brazil Securities Commission schedules judgment session in Cortel Holding market manipulation and fraud case
The Brazil Securities Commission (CVM) will hold a public judgment session on 25 November for Administrative Sanctioning Proceeding 19957.013886/2022-02, concerning alleged price manipulation and fraudulent transactions by Cortel Holding S.A. and associated individuals. The session will be at CVM's headquarters in Rio de Janeiro, with options for in-person or videoconference attendance. A report by Director Marina Copola is available and may be amended post-session.