12/19/16 Deadline Alert: GPM Reminds Investors of the December 19th Deadline in the Class Action Lawsuit Against Pilgrim’s ...
December 19 2016 - 2:31PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the
December 19, 2016 deadline to file a lead plaintiff motion
in the class action lawsuit filed on behalf of investors who
purchased or otherwise acquired Pilgrim’s Pride Corporation
(“Pilgrim” or the “Company”) (NASDAQ: PPC) securities between
February 21, 2014 and October 6, 2016, inclusive (the
“Class Period”). Pilgrim investors have until December 19,
2016 to file a lead plaintiff motion.
According to the complaint filed in this lawsuit, beginning
sometime in 2008, Pilgrim and several other poultry companies
conspired to fix the price of chicken by sharing proprietary data
and reducing production to support prices. And, on October 7, 2016,
Pivotal Research downgraded Pilgrim from "buy" to "sell," due to
fears over the antitrust class action against the Company, which it
called "powerfully convincing." When this news was disclosed to the
public, Pilgrim shares dropped in value. The class action lawsuit
on behalf of investors seeks to recover damages suffered by
investors as a result of the alleged fraud by Pilgrim, and the
resulting decline in the Company’s stock price.
If you purchased or otherwise acquired Pilgrim shares during the
Class Period, you may move the Court no later than December
19, 2016 to request appointment as lead plaintiff. 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
shareholders@glancylaw.com, or visit our website at
http://www.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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161219006116/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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