A Deadline is coming up on December 19, 2016 in the lawsuit for investors in Pilgrim’s Pride Corporation (NASDAQ:PPC) and NASDAQ:PPC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/19/2016 -- The Shareholders Foundation announced that a deadline is coming up on December 19, 2016 in the lawsuit filed for certain investors of Pilgrim's Pride Corporation (NASDAQ:PPC) over alleged securities laws violations by Pilgrim's Pride Corporation.
Investors who purchased shares of Pilgrim's Pride Corporation (NASDAQ:PPC) have certain options and there are strict and short deadlines running. Deadline: December 19, 2016. NASDAQ:PPC stockholders should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the District of Colorado the plaintiff alleges on behalf of certain purchasers of Pilgrim's Pride Corporation (NASDAQ:PPC) common shares, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Defendants made false and/or misleading statements and/or failed to disclose that: (i) Pilgrim's Pride systematically colluded with several of its industry peers to fix prices in the market for broiler chickens (i.e., chickens raised specifically for meat production); (ii) the foregoing conduct constituted a violation of federal antitrust laws; (iii) consequently, Pilgrim's Pride's revenues during the class period were the result of illegal conduct; and (iv) as a result of the foregoing, Pilgrim's Pride's public statements were materially false and misleading at all relevant times.
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 Pilgrim's Pride and several other poultry producers, including Tyson Foods, Inc., alleging that Pilgrim's Pride 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 Pilgrim's Pride and its 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."
Shares of Pilgrim's Pride Corporation (NASDAQ:PPC) closed on December 16, 2016 at $18.31 per share.
Those who purchased shares of Pilgrim's Pride Corporation have certain options and should contact the Shareholders Foundation.