BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired TreeHouse Foods, Inc. (“TreeHouse” or the “Company”) (NYSE: THS) securities between February 1, 2016 and November 2, 2016, inclusive (the “Class Period”). TreeHouse investors have until January 17, 2017 to file a lead plaintiff motion.
Investors suffering losses on their TreeHouse investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
The filed complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s private label business was underperforming; (2) the Company’s acquisition strategy was underperforming; (3) the Company had overstated its full-year 2016 guidance; and (4) as a result of the foregoing, Defendants’ statements about TreeHouse’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On November 3, 2016, TreeHouse lowered its full-year profit forecast to $2.80-$2.85 per share, from $3.00-$3.10, announced the closure of a plant in Delta, British Columbia and job cuts at its facility in Battle Creek, Michigan. The Company also announced the resignation of its President and the appointment of a new Chief Financial Officer.
On this news, TreeHouse’s share price fell $16.87 per share, or nearly 20%, to close at $69.72 per share on November 3, 2016.
If you purchased shares of TreeHouse during the Class Period you may move the Court no later than January 17, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at http://www.howardsmithlaw.com.
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