Shareholders with losses exceeding $500,000 are encouraged to contact the firm
LOS ANGELES, Aug. 12, 2020 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming September 4, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of Pilgrim’s Pride Corporation (“Pilgrim’s Pride” or the “Company”) (NASDAQ: PPC) investors who purchased securities between February 9, 2017, and June 3, 2020, inclusive (the “Class Period”).
If you suffered a loss on your Pilgrim’s Pride investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/pilgrims-pride-corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
On June 3, 2020, The Wall Street Journal reported that Pilgrim’s Pride’s Chief Executive Officer and others had been indicted “for allegedly conspiring to fix prices on chickens sold to restaurants and grocery stores.”
On this news, the Company’s share price fell $2.58, or more than 12%, to close at $18.29 per share on June 3, 2020, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company and its executives had participated in an illegal antitrust conspiracy to fix prices and rig bids from at least as early as 2012 and continuing through at least early 2017; (2) that the Company received competitive advantages, which persisted during the Class Period, from its anticompetitive conduct; and (3) as a result, Defendants’ statements about the Company’s business, operations, and prospects lacked a reasonable basis.
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If you purchased or otherwise acquired Pilgrim’s Pride securities during the Class Period, you may move the Court no later than September 4, 2020 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
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