CVM fines company that forced a vote for Bolsonaro – 01/30/2024 – Panel SA

Stara, a company that manufactures agricultural machinery, was fined this Tuesday (30) by the CVM (Securities Commission) because it did not deliver its 2022 financial statements. The board of directors was fined almost R$1 million.

It is another setback in the list of problems for the Rio Grande do Sul company that belongs to Átila Trennepohl.

In 2022, right after the first round of elections, the company sent a statement to suppliers saying it would make cuts in business if Lula won the dispute.

At the time, Átila Trennepohl made a video confirming the existence of the letter. She said that there was a forecast of 30% growth for 2023, but “political instability and possible changes in economic guidelines”, with Lula’s eventual victory, would hinder business.

According to the CVM, the decision not to deliver the documents was taken by Stara’s board of directors, which cited internal problems.

At that time, the company was trying to negotiate to buy out minority shareholders, but encountered difficulties in the process.

The company’s top management then chose not to send the documentation to the CVM, fearing turmoil in the process of buying and selling minority shares.

According to the CVM, the decision was made by Átila Trennepohl, CEO of Stara, Gilson Trennepohl, president of the board, Fernando Trennepohl and Susana Trennepohl, both members of the board.

Another problem was the failure to convene a general shareholders meeting. The company stated that shareholders had no interest in the meeting. However, according to the CVM, there are no documents that indicate the shareholders’ statement to Stara’s management in relation to the operation.

Átila and Susana were fined R$313,000 each. Ricardo Éber Diaz, director of investor relations, received a fine of R$275,000. Gilson and Fernando were fined R$38,500 each. Four other directors were acquitted.

In addition to Átila Trennepohl’s letter to suppliers in the 2022 election, several complaints made to the Electoral Court reported attempts at electoral coercion with employees so that they would vote for Jair Bolsonaro (PSL).

Throughout the campaign, Gilson and Susana Trennepohl donated more than R$1.5 million to allies of former president Bolsonaro in the South region.

In April last year, Stara was ordered by the Public Ministry of Labor of the 4th Region to pay R$1.5 million in compensation for collective moral damages.

During the 2024 and 2026 elections, the company will be obliged to publish communications highlighting the right to citizenship and free voting of its employees.

When contacted, Stara did not respond until the publication of this report.

With Diego Felix

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