INVESTOR ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Pilgrim’s Pride Corporation and Encourages Investors with Losses to Contact the Firm

IRVINE, CA / ACCESSWIRE / October 31, 2016 / Khang & Khang LLP (the “Firm”) announces a class action lawsuit against Pilgrim’s Pride Corporation (“Pilgrim’s Pride” or the “Company”) (Nasdaq: PPC). Investors who purchased or otherwise acquired shares between February 21, 2014 and October 6, 2016 inclusive (the “Class Period”), are encouraged to contact the Firm prior to the December 19, 2016 lead plaintiff motion deadline.

If you purchased Pilgrim’s Pride shares during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.

There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

The complaint alleges that Pilgrim’s Pride made false and/or misleading statements and/or failed to disclose that: the Company systematically colluded with several of its industry peers to fix prices in the market for broiler chickens; that the foregoing conduct constituted a violation of federal antitrust laws; that Pilgrim’s Pride’s revenues during the class period were the result of illegal conduct; that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. On October 7, 2016, Pivotal Research downgraded its peer company Tyson Foods, Inc. from “buy” to “sell,” due to fears of a class action against Tyson Foods, Pilgrim’s Pride other peers over price collusion in the broiler-chicken market. Allegedly, in 2008, Tyson Foods, Pilgrim’s Pride, and several other companies conspired by sharing proprietary data and reducing production to support prices. When this information was disclosed, the stock price of Pilgrim’s Pride fell.

If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.

This press release may constitute Attorney Advertising in some jurisdictions.

Contacts

Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com

SOURCE:Khang & Khang LLP

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