LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the January 17, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) of investors who purchased TreeHouse Foods, Inc. (“TreeHouse” or the “Company”) (NYSE: THS) securities between February 1, 2016 and November 2, 2016, inclusive (the “Class Period”). TreeHouse investors have until January 17, 2017 to file a lead plaintiff motion.
The filed complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s private label business was underperforming; (2) the Company’s acquisition strategy was underperforming; (3) the Company had overstated its full-year 2016 guidance; and (4) as a result of the foregoing, Defendants’ statements about TreeHouse’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On November 3, 2016, TreeHouse lowered its full-year profit forecast to $2.80-$2.85 per share, from $3.00-$3.10, announced the closure of a plant in Delta, British Columbia and job cuts at its facility in Battle Creek, Michigan. The Company also announced the resignation of its President and the appointment of a new Chief Financial Officer.
On this news, TreeHouse’s share price fell $16.87 per share, or nearly 20%, to close at $69.72 per share on November 3, 2016.
If you purchased TreeHouse shares, you may move the Court no later than January 17, 2017 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.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.