Pilgrim’s Pride Corporation (NYSE: PPC)
A class action has been filed in the United States District Court for the District of Colorado on behalf of purchasers of Pilgrim’s Pride Corporation (NYSE: PPC) common stock between February 21, 2014 and October 6, 2016, (the “Class Period”).
The complaint alleges that 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 information was disclosed, shares of Pilgrim’s Pride fell in value, causing investors harm.
If you are a current shareholder and purchased stock between February 21, 2014 and October 6, 2016, and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.
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