NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Pilgrim’s Pride Corporation (NASDAQ:PPC) resulting from allegations that Pilgrim’s Pride may have issued materially misleading business information to the investing public.
On October 7, 2016, Pivotal Research downgraded Pilgrim’s Pride’s peer Tyson Foods, Inc. to “sell” from “buy,” citing concerns about a “powerfully convincing” class action against Tyson Foods, Pilgrim’s Pride, and certain of Pilgrim’s Pride’s industry peers alleging price collusion in the broiler-chicken market. The class action complaint alleges, among other things, that beginning in 2008, Tyson Foods, Pilgrim’s Pride, and several other companies colluded by sharing proprietary data and reducing production to support prices. On this news, shares of Pilgrim’s Pride fell $0.95 per share or over 4% to close at $20.16 per share on October 7, 2016.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Pilgrim’s Pride investors. If you purchased shares of Pilgrim’s Pride on or before October 7, 2016, please visit the firm’s website at http://www.rosenlegal.com/cases-965.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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