Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Pilgrim's Pride Corporation (PPC) Investors

Shareholders with losses exceeding $500,000 are encouraged to contact the firm

LOS ANGELES--()--Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased Pilgrim's Pride Corporation ("Pilgrim’s Pride" or the "Company") (NASDAQ: PPC) securities between February 9, 2017, and June 3, 2020, inclusive (the “Class Period”). Pilgrim’s Pride investors have until September 4, 2020 to file a lead plaintiff motion.

If you suffered a loss on your Pilgrim’s Pride investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/pilgrims-pride-corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On June 3, 2020, The Wall Street Journal reported that Pilgrim’s Pride’s Chief Executive Officer and others had been indicted "for allegedly conspiring to fix prices on chickens sold to restaurants and grocery stores."

On this news, the Company's share price fell $2.58, or more than 12%, to close at $18.29 per share on June 3, 2020, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company and its executives had participated in an illegal antitrust conspiracy to fix prices and rig bids from at least as early as 2012 and continuing through at least early 2017; (2) that the Company received competitive advantages, which persisted during the Class Period, from its anticompetitive conduct; and (3) as a result, Defendants’ statements about the Company’s business, operations, and prospects lacked a reasonable basis.

Follow us for updates on LinkedIn, Twitter, or Facebook.

If you purchased Pilgrim’s Pride securities during the Class Period, you may move the Court no later than September 4, 2020 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 Charles Linehan, 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 shareholders@glancylaw.com, or visit our website at 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.

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com

Release Summary

Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Pilgrim's Pride Corporation (PPC) Investors

$Cashtags

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com