DEADLINE ALERT: Brower Piven Notifies Shareholders of Upcoming Deadline In Class Action Lawsuit And Urges Those With Losses I...
December 09 2016 - 9:00PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the District
of Colorado on behalf of purchasers of Pilgrim’s Pride Corporation
(Nasdaq: PPC) (“Pilgrim’s Pride” or the “Company”) securities
during the period between February 21, 2014 and October 6, 2016,
inclusive (the “Class Period”). Investors who wish to become
proactively involved in the litigation have until December 19, 2016
to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Pilgrim’s Pride securities during the Class Period.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff. No class has yet been
certified in the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that the Company
systematically colluded with several of its industry peers to fix
prices in the market for broiler chickens, which constituted a
violation of federal antitrust laws, and that Pilgrim’s revenues
during the class period were the result of the illegal conduct.
According to the complaint, following a September 2, 2016 filing
of an antitrust class action complaint by Maplevale Farms, Inc.
alleging that Pilgrim and other companies conspired to manipulate
prices, and an October 7, 2016 downgrade by Pivotal Research from
“Hold” to “Sell” due to the lawsuit and the allegations, the value
of Pilgrim shares declined significantly.
If you have suffered a loss in excess of $100,000 from
investment in Pilgrim’s Pride securities purchased on or after
February 21, 2014 and held through the revelation of negative
information during and/or at the end of the Class Period and would
like to learn more about this lawsuit and your ability to
participate as a lead plaintiff, without cost or obligation to you,
please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Brower Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20161209005006/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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