San Diego, CA -- (SBWire) -- 12/21/2016 --The Shareholders Foundation announced that a deadline is coming up on December 27, 2016 in the lawsuit filed for investors of Sanderson Farms, Inc. (NASDAQ:SAFM) over alleged securities laws violations by Sanderson Farms.
Investors who purchased shares of Sanderson Farms, Inc. (NASDAQ:SAFM) have certain options and there are strict and short deadlines running. Deadline: December 27, 2016. NASDAQ:SAFM stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of certain purchasers of Sanderson Farms, Inc. (NASDAQ:SAFM) common shares, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between December 17, 2013 and October 6, 2016 the Defendants made false and/or misleading statements and/or failed to disclose that Sanderson Farms systematically colluded with several of its industry peers to fix prices in the broiler-chicken market, that the foregoing conduct constituted a violation of federal antitrust laws, that consequently, Sanderson Farms' revenues during the Class Period were the result of illegal conduct, and that as a result of the foregoing, Sanderson Farms' public statements were materially false and misleading at all relevant times.
On September 2, 2016, the market had its first taste of Defendants' fraud, when Maplevale Farms, Inc. filed an antitrust class action complaint in U.S. District Court for the Northern District of Illinois against Sanderson Farms and several other poultry producers, including Tyson Foods, Inc., Pilgrim's Pride Corporation, and Perdue Farms, Inc., alleging that Sanderson Farms and the other companies named in the complaint had conspired since 2008 to manipulate the prices of broiler chickens in violation of the Sherman Antitrust Act, 15 U.S.C. ยงยง 1-7 (the "Sherman Act"). Other antitrust lawsuits quickly followed.
On October 7, 2016, Pivotal Research downgraded the Company's peer, Tyson Foods, Inc. from "buy" to "sell," noting apprehensions about a "powerfully convincing" class action against Tyson Foods, Inc, Sanderson Farms, Inc, and some of its industry peers as defendants, alleging price collusion in the broiler-chicken market. The complaint alleges that at the beginning of 2008, Tyson Foods, Inc, Sanderson Farms, Inc, and several other companies conspired by sharing proprietary data and reducing production to support prices. Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) declined on October 7, 2016 to as low as $86.75 per share, respectively to as low as $85.25 per share on October 27, 2016.
Those who purchased shares of Sanderson Farms, Inc. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Deadline in Lawsuit for Investors in Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) Upcoming
A Deadline is coming up on v in the lawsuit for investors in Sanderson Farms, Inc. (NASDAQ:SAFM) and NASDAQ:SAFM stockholders should contact the Shareholders Foundation.