NEW YORK, March 1, 2019 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of The Kraft Heinz Company ("Kraft Heinz" or the "Company") (NASDAQ: KHC). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Kraft Heinz and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 21, 2019, post-market, Kraft Heinz reported its financial and operating results for the fourth quarter and full year 2018, including earnings of $0.84 per share on revenue of $6.89 billion. These results fell short of market expectations for earnings of $0.94 per share on revenue of $6.93 billion. Kraft Heinz also cut its quarterly dividend to $0.40 per share and announced receipt of a U.S. Securities and Exchange Commission subpoena in October 2018 associated with an investigation into the Company's procurement accounting policies.
Following these disclosures, Kraft Heinz's stock price fell $13.23 per share, or 27.42%, per share, or 41.16%, to close at 34.95 on February 22, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP