SAN DIEGO, Nov. 21, 2016 /PRNewswire/ -- Johnson & Weaver, LLP announces that a class action complaint was filed on behalf of purchasers of Tyson Foods, Inc. (NYSE:TSN) securities during the period between November 23, 2015 and October 6, 2016 (the "Class Period"). Tyson operates as a food company worldwide.
According to the complaint, throughout the Class Period, Tyson Foods made false and misleading statements and failed to disclose material information during the Class Period. On September 2, 2016, some in the media reported the filing of an antitrust class action lawsuit against Tyson Foods and some of its peers for conspiring to manipulate the price of broiler chickens. Allegedly, in 2008, Tyson Foods and several other companies conspired by sharing proprietary data and reducing production to support prices. On October 7, 2016, Pivotal Research downgraded Tyson Foods due to fears over the class action against the Company, which it called "powerfully convincing." When this information came into view to the public, the stock price of Tyson Foods decreased, causing investors harm.
In other news, on November 21, 2016, after the class action was filed, Tyson announced that its Chief Executive, Donnie Smith, is leaving and being replaced by current President Tom Hayes.
If you have any questions concerning this notice, or if you purchased stock before the November 23, 2015, class period, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member.
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