LOS ANGELES--(BUSINESS WIRE)--
Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Tyson Foods, Inc. (“Tyson” or the “Company”) (NYSE: TSN) securities between November 23, 2015 and October 6, 2016, inclusive (the “Class Period”). Tyson investors have until December 16, 2016 to file a lead plaintiff motion.
Investors suffering losses on their Tyson investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to [email protected].
The complaint alleges that during the Class Period, Tyson made false and/or misleading statements and/or failed to disclose material information. On September 2, 2016, some media outlets reported the filing of an antitrust class action lawsuit against Tyson and some of its peers for conspiring to manipulate the price of broiler-chickens. Allegedly, in 2008, Tyson and several other companies conspired by sharing proprietary data and reducing production to support prices. On October 7, 2016, Pivotal Research downgraded Tyson from "buy" to "sell," due to fears over the class action against the Company, which it called "powerfully convincing." When this news was disclosed to the public, Tyson shares dropped in value.
On October 7, 2016 Pivotal Research published a report downgrading Tyson to "sell" from "buy" primarily due to concerns about a price collusion class action in the broiler-chicken market that named Tyson and other companies in the industry as defendants. According to the complaint, beginning in 2008, Tyson and several other companies colluded by sharing proprietary data and reducing production to support prices in the chicken market.
If you purchased shares of Tyson during the Class Period you may move the Court no later than December 16, 2016 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161102006835/en/
