Summary
MercadoLibre, Inc. (MELI) filed an 8-K on February 5, 2020, primarily to address press reports concerning the sale of Argentine Treasury securities (Letes and Lecaps) by an asset manager handling funds for MELI customers. The company stated it is not aware of any alleged misconduct and is monitoring an action submitted to an Argentine judge by a prosecutor related to these allegations. MELI has not yet reviewed the prosecutor's submission and is gathering more information to determine its next steps.
Key Highlights
- 1Disclosure of an investigation by an Argentine prosecutor related to the sale of Argentine Treasury securities held on behalf of MELI customers.
- 2MercadoLibre states it is unaware of any alleged misconduct by the company or its affiliates.
- 3The company is actively monitoring the legal proceedings and is awaiting details of the prosecutor's submission.
- 4MELI intends to determine its course of action once it has further information.
- 5The report clarifies that the information provided is not deemed 'filed' for the purposes of certain SEC regulations.
- 6The securities in question are Letes and Lecaps issued by the Argentine Treasury.
- 7The event date cited for this disclosure is February 4, 2020.