BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the November 27, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Campbell Soup Company (“Campbell” or the “Company”) (NYSE: CPB) securities between August 31, 2017 and May 17, 2018, inclusive (the “Class Period”). Campbell investors have until November 27, 2018 to file a lead plaintiff motion.
Investors suffering losses on their Campbell investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On May 18, 2018, Campbell announced poor financial results for the third quarter, including a $19 million loss for the Campbell Fresh division in the third quarter fiscal 2018, forcing the company to take a $619 million pre-tax non-cash impairment charge for the division and to further revise its fiscal year 2018 earnings guidance. Further, Campbell announced that Denise Morrison was resigning as Chief Executive Officer of the company. On this news, Campbell’s share price fell more than 12%, to close at $34.37 per share on May 18, 2018, thereby injuring investors.
The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Campbell failed to disclose known trends that were negatively impacting the profitability of the Campbell Fresh division; and (2) consequently, Defendants’ positive statements about the Company’s and the Campbell Fresh division’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
If you purchased shares of Campbell during the Class Period you may move the Court no later than November 27, 2018 to ask the Court to appoint you 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 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 howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.