Shareholders Foundation, Inc.

Investigation for Food Distributors Who Purchased Poultry from Tyson Foods, Inc. and Other Chicken Producers

An investigation was announced for food distributors, who purchased chicken from Tyson Foods, Inc. and other poultry producers and those food distributors should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 11/28/2016 -- An investigation was announced on behalf of food distributors, who purchased chicken from Tyson Foods, 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 Tyson Foods, Inc. and other poultry producers, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com 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 Tyson Foods, Inc., alleging that Tyson Foods, 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 17, 2016, a securities class action lawsuit was filed against Tyson Foods, Inc over alleged securities laws violations. The plaintiff claims that between November 23, 2015 and October 7, 2016 Tyson Foods had conspired to fix chicken prices and that, as a result, defendants' statements were allegedly materially false and misleading at all relevant times. The plaintiff seeks to recover losses on behalf of investors who purchased shares of Tyson Foods, Inc. (NYSE:TSN) between November 23, 2015 and October 7, 2016.

Those food distributors, who purchased chicken from Tyson Foods, Inc. and other poultry producers, 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