Luiz Barsi is the target of CVM investigation to investigate Unipar shares trading

One of the main individual investors in the Brazilian Stock Exchange, Luiz Barsi Filho is under investigation by the CVM (Securities and Exchange Commission) to investigate possible irregularities involving Unipar Carbocloro’s shares.

According to the investigation opened by the financial market regulator, the investigation aims to investigate the possible use of privileged information in trading Unipar shares on the stock exchange before the disclosure of material fact on June 2, 2021.

The information about the investigation was published by columnist Lauro Jardim, of the newspaper O Globo, and confirmed by the Sheet.

In the document released at the time, the company said it had entered into a confidentiality agreement in order to analyze information for a possible transaction with Compass Minerals do Brasil. On that date, Unipar’s shares had a strong appreciation of 5.7%.

Luiz Barsi is one of the company’s main shareholders, holding approximately 14% of the common shares (with voting rights), in addition to holding the position of vice-chairman of the board of directors.

In a note, Luiz Barsi said that he has been a shareholder of Unipar for more than 10 years and that he does not act speculatively in the market.

“My portfolio is formed by decades of investing in the Stock Exchange, always with a buying bias to provide financial income through dividends. In other words, I don’t have short-term assets, much less with the direct purpose of benefiting from the rapid valuation of any asset, as I rarely sell my positions,” said Barsi.

Also according to the investor, the procedure underway at the CVM is an investigation, “of which I am fully convinced that nothing wrong has been done.”

Unipar’s shares were up around 1% around 1:30 pm this Monday (17), quoted at R$103.80.