The Law Firm of Kessler Topaz Meltzer & Check, LLP Announces a Proposed Class Action Settlement with Pilgrim's Pride Corporation

Summary Notice of Pendency and Proposed Settlement of Class Action and Settlement Fairness Hearing

MARSHALL, Texas, Feb. 20, 2012 /PRNewswire/ -- To:  All persons and entities who purchased or otherwise acquired the common stock of Pilgrim's Pride Corporation from May 5, 2008 to October 28, 2008, inclusive, including all those who purchased the common stock of Pilgrim's Pride Corporation pursuant and/or traceable to any registration statement, prospectus, prospectus supplement or any documents therein incorporated by reference filed with the U.S. Securities and Exchange Commission in connection with the Company's May 14, 2008 Secondary Offering, and who were damaged thereby (the "Class").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and Order of the Court, that the above-captioned action has been certified as a class action for purposes of settlement only and that a settlement for One Million Five Hundred Thousand Dollars ($1,500,000) has been proposed.  A hearing will be held before the Honorable Rodney Gilstrap in the United States District Court for the Eastern District of Texas, Sam B. Hall, Jr. Federal Building and United States Courthouse, 100 East Houston Street, Marshall, Texas 75670, Courtroom 106, at 9:00 a.m., on May 1, 2012 to determine: (1) whether the proposed Settlement should be approved as fair, reasonable and adequate; (2) whether the Action should be dismissed with prejudice against Defendants; (3) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (4) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND.  If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees and Expenses and Settlement Fairness Hearing (the "Notice") and Proof of Claim and Release form ("Proof of Claim"), you may obtain copies of these documents by contacting:

Pilgrim's Pride Corporation Securities Litigation
c/o Rust Consulting, Inc.
P.O. Box 2619
Faribault, MN 55021-9619
(866) 430-8117
www.PilgrimsPrideSecuritiesSettlement.com

Inquiries, other than requests for the forms of the Notice and Proof of Claim, may be made to Lead Counsel:

Gregory M. Castaldo, Esq.
Christopher L. Nelson, Esq.
Jennifer L. Enck, Esq.
Kessler Topaz Meltzer & Check, LLP
280 King of Prussia Road
Radnor, PA 19087

To participate in the Settlement, you must submit a Proof of Claim postmarked not later than June 9, 2012.  If you are a member of the Class and do not submit a valid Proof of Claim, you will not share in the Settlement but you nevertheless will be bound by the Judgment entered by the Court in this litigation.  As more fully described in the Notice, the deadline for submitting objections and requests for exclusion is April 17, 2012.

Further information may also be obtained by directing your inquiry in writing to the Claims Administrator, Rust Consulting, Inc., at the address listed above.

DATED:  January 23, 2012

BY ORDER OF THE UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF TEXAS
MARSHALL DIVISION

SOURCE Kessler Topaz Meltzer & Check, LLP