|Company Name||Landec Corporation|
On January 2, 2020, the Company disclosed investigations by the U.S. Securities & Exchange Commission and Department of Justice regarding “potential environmental and Foreign Corrupt Practices Act (‘FCPA’) compliance matters associated with regulatory permitting” at a manufacturing plant in Mexico owned by Yucatan Foods, which Landec acquired in December 2018.
On this news, the Company’s share price fell $1.14, or over 10%, to close at $10.03 per share on January 3, 2020, thereby injuring investors.
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