LOS ANGELES--(BUSINESS WIRE)--
Goldberg Law PC, a national shareholder rights litigation firm, announces a class action lawsuit has been filed against Pilgrim’s Pride Corporation (“Pilgrim’s Pride” or the “Company”) (Nasdaq: PPC). Investors who purchased or otherwise acquired shares between February 21, 2014 and October 6, 2016 (the “Class Period”) are encouraged to contact the firm in advance of the December 19, 2016 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The complaint alleges that during the Class Period, Pilgrim’s Pride made false and/or misleading statements and/or failed to disclose that: the Company systematically colluded with several of its industry peers to fix prices in the market for broiler chickens; that the foregoing conduct constituted a violation of federal antitrust laws; that Pilgrim’s Pride’s revenues during the class period were the result of illegal conduct; that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. On October 7, 2016, Pivotal Research downgraded its peer company Tyson Foods, Inc. from “buy” to “sell,” due to fears of a class action against Tyson Foods, Pilgrim’s Pride other peers over price collusion in the broiler-chicken market. Allegedly, in 2008, Tyson Foods, Pilgrim’s Pride, and several other companies conspired by sharing proprietary data and reducing production to support prices. When this news was announced, shares of Pilgrim’s Pride fell in value.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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