LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Sanderson Farms, Inc. (“Sanderson” or the “Company”) (NASDAQ: SAFM) investors concerning the Company and its officers potential violation of federal securities laws.
Sanderson is an integrated poultry processing company that produces, processes, markets and distributes fresh, frozen and prepared chicken products in the United States.
On October 7, 2016, Pivotal Research issued a report downgrading Sanderson’s peer Tyson Foods, Inc. ("Tyson") to "sell" from "buy," primarily due to concerns about a price collusion class action in the broiler-chicken market that named Tyson and Sanderson as defendants. According to the complaint, beginning in 2008, Tyson, Sanderson and other companies in the industry colluded by sharing proprietary data and reducing production to support prices.
On this news, Sanderson stock fell nearly 7% during intraday trading on October 7, 2016.
If you purchased Sanderson securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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