On October 7, 2016, Pivotal Research downgraded the Company's peer, Tyson Foods, Inc. ("Tyson") from "buy" to "sell," noting apprehensions about a "powerfully convincing" class action against Tyson, Pilgrim's Pride, and some of its industry peers as defendants, alleging price collusion in the broiler-chicken market. The complaint alleges that at the beginning of 2008, Tyson, Pilgrim's Pride, and several other companies conspired by sharing proprietary data and reducing production to support prices. Following this news, Pilgrim's Pride stock has dropped as much as $1.29 per share, or 6.11%, to $19.82 during intraday trading on October 7, 2016.
If you are aware of any facts relating to this investigation, or purchased shares of Pilgrim's Pride, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/ppc. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC