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Lawsuit filed for Investors in shares of Pilgrim’s Pride Corporation (NASDAQ: PPC) I

07-20-2020 09:50 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Pilgrim’s Pride Corporation (NASDAQ: PPC) shares.

A lawsuit was filed on behalf of investors in Pilgrim’s Pride Corporation (NASDAQ: PPC) shares.

An investor, who purchased shares of Pilgrim’s Pride Corporation (NASDAQ: PPC), filed a lawsuit over alleged violations of Federal Securities Laws by Pilgrim’s Pride Corporation.

Investors who purchased shares of Pilgrim’s Pride Corporation (NASDAQ: PPC) have certain options and for certain investors are short and strict deadlines running. Deadline: September 4, 2020. NASDAQ: PPC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Greeley, CO based Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products in the United States, the United Kingdom, Mexico, France, Puerto Rico, the Netherlands, rest of Europe, the Middle East, Asia, and internationally.
On February 9, 2017, Pilgrim’s Pride filed its annual report for the year ended December 31, 2016, with the SEC on a Form 10-K. In the report Pilgrim’s Pride’s emphasized its “competitive strengths” and advantages regarding its market position in the chicken industry. It further represented that Pilgrim’s Pride’s “full-line product capabilities, high-volume production capacities, research and development expertise and extensive distribution and marketing experience are competitive strengths compared to smaller and non-vertically integrated producers.”

On June 3, 2020, it was reported that the chief executive officer of Pilgrim's, America's second-biggest chicken producer, was charged by Federal prosecutors with conspiring to fix prices as part of an antitrust investigation of chicken-processing companies.
Shares of Pilgrim's Pride Corporation (NASDAQ: PPC) declined from $33.67 per share in late 2019 to as low as $17.51 per share on June 3, 2020.

The plaintiff claims that between February 9, 2017, and June 3, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Pilgrim’s Pride and its executives had participated in an illegal antitrust conspiracy to fix prices and rig bids from at least as early as 2012 and continuing through at least early 2017, that Pilgrim’s Pride received competitive advantages, which persisted during the Class Period, from its anticompetitive conduct, and that as a result, the defendants’ statements about the Pilgrim’s Pride’s business, operations, and prospects lacked a reasonable basis.

Those who purchased shares of Pilgrim’s Pride Corporation (NASDAQ: PPC) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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