Regulator Malpractice against Sanepar (SAPR11) Case

In 2020, Agepar reduced Sanepar's (SAPR11) annual tariff adjustment from 9.62% to 5.11%.

To justify the calculation, the Agency switched the indicator that corrects the tariff — from IGP-M to the IPCA — and left out of account a tariff deferral to which the company was entitled since 2017.

At the same meeting in which it presented the adjustment for the year, Agepar threw a bomb in the lap of investors: it presented a preview of the tariff review that reduces by almost 20% the structural tariff of the Company.

Sanepar's (SAPR11) stock had already collapsed over 20% since the announcement of these measures, putting much of the interference in the price.

Investors have reason to suspect that because of the Regulator’s actions, Sanepar's shareholders suffered damages when the true details entered the market.