Scott+Scott Attorneys at Law LLP Continues Investigating Pilgrim’s Pride Corporation’s Directors and Officers for Breach of Fiduciary Duties (PPC)

NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, continues to investigate whether certain directors and officers of Pilgrim’s Pride Corporation (“Pilgrim’s Pride”) (NASDAQ: PPC) breached their fiduciary duties to Pilgrim’s Pride and its shareholders. If you are a Pilgrim’s Pride shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or [e-mail].

Scott+Scott is investigating whether members of Pilgrim’s Pride Board of Directors (the “Board”) made, or caused Pilgrim’s Pride to make, false and/or misleading statements, as well as failed to disclose material adverse facts, about Pilgrim’s Pride’s business, operations, prospects, and financial health. Specifically, Scott+Scott is investigating whether the Board failed to disclose material information, including whether: (1) Pilgrim’s Pride 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 the early part of 2017; (2) Pilgrim’s Pride received competitive advantages, which persisted during the Class Period, from its anticompetitive conduct; and (3) as a result, statements about the Pilgrim’s Pride’s business, operations, and prospects lacked a reasonable basis.

On June 3, 2020, the United States Department of Justice announced criminal charges charging four executives in the chicken industry with criminal antitrust violations. The indictment alleged that these individuals, as well as other co-conspirators, violated the Sherman Act by “participating in a continuing network of suppliers and co-conspirators, an understood purpose of which was to suppress and eliminate competition through rigging bids and fixing prices and price-related terms for broiler chicken products sold in the United States.”

On this news, the price of Pilgrim’s Pride common stock declined $2.58 per share, or approximately 12.4%, from a close of $20.87 per share on June 2, 2020, to close at $18.29 per share on June 3, 2020.

What You Can Do

If you are a Pilgrim’s Pride shareholder, you may have legal claims against Pilgrim’s Pride’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or [e-mail].

About Scott+Scott

Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.

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