BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that investors of Yum! Brands, Inc. (“Yum” of the “Company”) (NYSE:YUM) have until March 25, 2013 to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Central District of California on behalf of a class (the “Class”) comprising all purchasers of the securities of YUM between October 9, 2012 and January 7, 2013, inclusive (the “Class Period”). YUM, together with its subsidiaries, operates quick service restaurants in the United States and internationally under the KFC, Pizza Hut and Taco Bell brands.
The Complaint alleges that throughout the Class Period the defendants misrepresented and/or failed to disclose that: (1) slowing economic trends in China were stronger than reported and could not support Yum’s China Division’s forecasted sales results or the Company’s increased earnings-per-share growth; (2) defendants knew but concealed that the Company’s own food safety inspections had already discovered high levels of antibiotics and other illegal drugs and/or chemicals in chickens purchased from a Chinese supplier -- Shandong Liuhe Group; and (3) Yum had continued to buy products from Shandong Liuhe Group until as late as August 2012.
If you are a member of the Class described above, you have certain rights, and have until March 25, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, or may retain counsel of your choice. If you wish to discuss this action or learn more concerning your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.