Another lawsuit was filed by a current investor in Yum! Brands, Inc. (NYSE:YUM) shares and current long term NYSE:YUM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/17/2013 -- Another investor who currently hold shares of Yum! Brands, Inc. (NYSE:YUM) filed another lawsuit against directors of Yum! Brands, Inc. over alleged breaches of fiduciary duties that caused damages to the company and its shareholders.
Investors who purchased shares of Yum! Brands, Inc. (NYSE:YUM) in 2012 or earlier and currently hold any of those NYSE:YUM shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The lawsuit filed by a current investor in Yum! Brands, Inc. (NYSE:YUM) stocks is at least the second lawsuit filed against directors of Yum! Brands, Inc.
In May 2013 two shareholders of Yum! Brands, Inc. filed lawsuits against certain officers and directors of the Company asserting breaches of fiduciary duty in connection with an alleged scheme to mislead investors about the Company's growth prospects in China.
Those lawsuits against directors over alleged breaches of fiduciary duties by certain officers and directors follow a lawsuit that was filed in early 2013 against Yum! Brands, Inc. over alleged securities laws violations. The plaintiff alleges that Yum! Brands, Inc. violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements concerning the Company's current and future business and financial condition. The plaintiff claims that as a result of defendants' false and misleading statements, Yum! Brands, Inc. (NYSE:YUM) common stock traded at artificially inflated prices between October 9, 2012 and January 7, 2013, reaching over $74 per share.
On October 9, 2012, Yum! Brands Inc. reported results for the third quarter ended September 8, 2012. Among other things, Yum! Brands, Inc. said that in China its category-leading brands and competitive positions are stronger than ever and that the strong performance, combined with its new expectation to open over 750 high-return new restaurants this year, further demonstrates why Yum! Brands Inc. is so confident in the long-term growth of its China business. Then on Nov. 29, 2012, Yum! Brands, Inc. announced its Full-Year 2013 expectations and reconfirmed its full-year 2012 EPS growth forecast. Among other things, Yum! Brands, Inc. said that for the fourth quarter the operating performance from Yum! Restaurants International and its U.S. division is offsetting softer sales in China, where it now expected same-store sales to be negative. Then on Dec. 21, 2012, Yum! Brands, Inc. disclosed that it is cooperating fully with the Chinese government's review of two poultry suppliers who provided chicken with unapproved levels of antibiotics to KFC.
Shares of Yum! Brands, Inc. (NYSE:YUM) closed on December 16, 2013, at $73.23 per share.
Those who purchased shares of Yum! Brands, Inc. (NYSE:YUM) in 2012 or earlier and currently hold any of those NYSE:YUM shares, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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