BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Sanderson Farms, Inc. (“Sanderson” or the “Company”) (NASDAQ: SAFM) concerning the Company and its officers’ possible violations 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 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 email@example.com, or visit our website at http://www.howardsmithlaw.com.
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