An investigation was announced for food distributors, who purchased chicken from Sanderson Farms, Inc. and other poultry producers and those food distributors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/30/2016 -- An investigation was announced on behalf of food distributors, who purchased chicken from Sanderson Farms, Inc. and other poultry producers from as early as January 2008 to present, who might have been harmed by an alleged conspiracy by certain poultry producers to fix chicken prices.
Those food distributors, who purchased chicken from Sanderson Farms, Inc. and other poultry producers, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
On September 2, 2016, food distributor Maplevale Farms, Inc. filed an antitrust class action complaint in U.S. District Court for the Northern District of Illinois against several poultry producers, including Sanderson Farms, Inc, alleging that Sanderson Farms, Inc and the other companies named in the complaint had conspired since 2008 to manipulate the prices of broiler chicken in violation of the Sherman Antitrust Act.
Between September 7, 2016 and October 7, 2016, seven more class action complaints were filed against Pilgrim's Pride and other poultry companies in the Northern District of Illinois, on behalf of individual consumers and indirect purchasers of broiler chickens, all alleging that certain industry peers had engaged in the price-manipulation scheme described in Maplevale Farms, Inc's complaint.
On October 7, 2016, Pivotal Research downgraded Tyson Foods, Inc. from "Hold" to "Sell." Explaining the downgrade, analyst Timothy Ramey directed investors' attention to the allegations of price manipulation by Pilgrim's Pride, Tyson Foods, Inc., and their industry peers and described the Maplevale Farms, Inc complaint as "powerfully convincing."
On October 28, 2016, a securities class action lawsuit was filed against Sanderson Farms, Inc. (NASDAQ:SAFM). The plaintiff claims that 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.
Those food distributors, who purchased chicken from Sanderson Farms, Inc and other poultry producers, have certain options and should contact the Shareholders Foundation.
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