Material Fact - Special Committee Investigation Conclusion
São Paulo, April 07, 2016 - Banco BTG Pactual S.A. ("BTG Pactual") and BTG Pactual Participations, Ltd. ("BTG Participations" and, jointly with BTG Pactual, the "Companies"), pursuant to CVM Instruction 358, today announced the completion of the four-month long investigation conducted by a Special Committee of its Board of Directors and Counsel (as defined below) to the Special Committee into various allegations of corruption or illegality related to the arrest of André Esteves and subsequent media coverage. The Special Committee and its Counsel, in a summary of its investigative conclusions issued today and attached hereto, found no basis to conclude that the allegations of misconduct and corruption against Esteves, BTG Pactual or its personnel that were the subject of the investigation are credible, accurate or otherwise supported by reliable evidence.
The Special Committee, which is comprised of independent directors Mark Maletz and Claudio Galeazzi and non-independent director Huw Jenkins, was formed in December 2015 and given a broad mandate to investigate various allegations of corruption and illegality following Esteves’ arrest in November 2015. The Special Committee retained the international law firm Quinn Emanuel Urquhart & Sullivan, LLP ("Quinn Emanuel") and Brazilian law firm Veirano Advogados ("Veirano", and together with Quinn Emanuel, "Counsel"), to serve as independent counsel and to lead the investigation on its behalf.
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