LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the December 19, 2016 deadline to file a lead plaintiff motion in the class action lawsuit filed on behalf of investors who purchased or otherwise acquired Pilgrim’s Pride Corporation (“Pilgrim” or the “Company”) (NASDAQ: PPC) securities between February 21, 2014 and October 6, 2016, inclusive (the “Class Period”). Pilgrim investors have until December 19, 2016 to file a lead plaintiff motion.
According to the complaint filed in this lawsuit, beginning sometime in 2008, Pilgrim and several other poultry companies conspired to fix the price of chicken by sharing proprietary data and reducing production to support prices. And, on October 7, 2016, Pivotal Research downgraded Pilgrim from "buy" to "sell," due to fears over the antitrust class action against the Company, which it called "powerfully convincing." When this news was disclosed to the public, Pilgrim shares dropped in value. The class action lawsuit on behalf of investors seeks to recover damages suffered by investors as a result of the alleged fraud by Pilgrim, and the resulting decline in the Company’s stock price.
If you purchased or otherwise acquired Pilgrim shares during the Class Period, you may move the Court no later than December 19, 2016 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you 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 firstname.lastname@example.org, 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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