Pilgrim's Pride Corporation

Company: Pilgrim's Pride Corporation
Ticker: PPC
Class Action Period: February 09, 2017 – June 03, 2020

0 Days Left Lead Plaintiff Deadline: September 04, 2020

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If you suffered a loss on your Pilgrim's Pride Corporation investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filling out this form mean you have joined any lawsuit.

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Additional Comments

Background

On June 3, 2020, The Wall Street Journal reported that Pilgrim’s Pride’s Chief Executive Officer and others had been indicted "for allegedly conspiring to fix prices on chickens sold to restaurants and grocery stores."

On this news, the Company's share price fell $2.58, or more than 12%, to close at $18.29 per share on June 3, 2020, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company and its executives had participated in an illegal antitrust conspiracy to fix prices and rig bids from at least as early as 2012 and continuing through at least early 2017; (2) that the Company received competitive advantages, which persisted during the Class Period, from its anticompetitive conduct; and (3) as a result, Defendants’ statements about the Company’s business, operations, and prospects lacked a reasonable basis.

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