NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 25, 2019 to file lead plaintiff applications in securities class action lawsuits against The Kraft Heinz Company (NasdaqGS: KHC), if they purchased the Company’s securities between the expanded period of July 6, 2015 and February 21, 2019, inclusive (the “Class Period”). These actions are pending in the United States District Courts for the Northern District of Illinois and Western District of Pennsylvania.
What You May Do
If you purchased securities of Kraft and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-khc/ to learn more. If you wish to serve as a lead plaintiff in these class actions, you must petition the Court by April 25, 2019.
About the Lawsuits
Kraft and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 21, 2019, Kraft disclosed that it had “recorded non-cash impairment charges of $15.4 billion to lower the carrying amount of goodwill in certain reporting units.” Further, the Company revealed the October 2018 receipt of a subpoena from the U.S. Securities and Exchange Commission relating to its procurement policies, procedures and internal controls.
On this news, the price of Kraft’s shares plummeted.
The first-filed case is Hedick v. Kraft Heinz Company, 19-cv-01339.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.