PILGRIM'S PRIDE SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Pilgrim's Pride Corporation - PPC
NEW ORLEANS, Nov. 11, 2016 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilDecember 19, 2016 to file lead plaintiff applications in a securities class action lawsuit against Pilgrim's Pride Corporation (NasdaqGS: PPC), if they purchased the Company's securities between February 21, 2014 and October 6, 2016, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of Colorado.
What You May Do
If you purchased shares of Pilgrim's Pride and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 19, 2016.
About the Lawsuit
Pilgrim's Pride and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 2, 2016, a food distributor filed an antitrust class action complaint against Pilgrim's Pride and several other poultry producers, including Tyson Foods, Inc. ("Tyson"), alleging that the defendants had conspired since 2008 to manipulate the prices of broiler chicken in violation of antitrust laws. Seven more antitrust complaints were filed between September 7 and October 7.
Then, on October 7, 2016, Pivotal Research downgraded Tyson from "Hold" to "Sell," stating that the allegations of the antitrust complaints were "powerfully convincing."
On this news, the price of Pilgrim's Pride's shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.