An investigation on behalf of investors in Pilgrim’s Pride Corporation (NASDAQ:PPC) shares over potential wrongdoing at Pilgrim’s Pride was announced and NASDAQ:PPC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/12/2016 -- An investigation was announced for investors in shares of Pilgrim's Pride Corporation (NASDAQ:PPC) was announced over potential breaches of fiduciary duties by certain directors at Pilgrim's Pride.
Investors who purchased shares of Pilgrim's Pride Corporation (NASDAQ:PPC) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain Pilgrim's Pride officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Pilgrim's Pride Corporation reported that its Total Revenue declined from over $8.58billion for the 52 weeks period that ended on Dec. 28, 2014 to over $8.18 billion for the 52 weeks period that ended on Dec. 27, 2015 and that its Net Income for those respective time periods declined from $711.65 million to $645.91 million. Shares of Pilgrim's Pride Corporation (NASDAQ:PPC) grew from $18.67 per share in November 2015 to as high as $26.91 per share in April 2016.
On October 7, 2016, Pivotal Research downgraded Pilgrim's Pride Corporation's peer, Tyson Foods, Inc. from "buy" to "sell," noting apprehensions about a "powerfully convincing" class action against Tyson Foods, Inc, Pilgrim's Pride Corporation, 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, Pilgrim's Pride Corporation, and several other companies conspired by sharing proprietary data and reducing production to support prices.
Shares of Pilgrim's Pride Corporation (NASDAQ:PPC) declined to $1`9.82 per share on October 7, 2016.
Those who purchased shares of Pilgrim's Pride Corporation 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