NEW YORK, NY / ACCESSWIRE / June 12, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Pilgrim's Pride Corporation("Pilgrim's" or the "Company") (NASDAQ:PPC). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Pilgrim's Pride and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On June 3, 2020, the U.S. Department of Justice announced that "[a] federal grand jury in U.S. District Court in Denver, Colorado, returned an indictment against four executives for their role in a conspiracy to fix prices and rig bids for broiler chickens." The indicted executives included Pilgrim's Pride Chief Executive Officer Jayson Penn and former vice president Roger Austin.
On this news, Pilgrim's Pride's stock price fell $2.58 per share, or 12.36%, to close at $18.29 per share on June 3, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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