NEW YORK, July 18, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of The J. M. Smucker Company "Outset" or the "Company") (NYSE: SJM). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Outset and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around May 20, 2022, Smucker's issued a voluntary recall of "select Jif® peanut butter products sold in the U.S. due to potential Salmonella contamination", affecting nearly 50 types of Jif peanut butter products sold in the United States.
On June 7, 2022, Smucker's disclosed that the recall is expected to cost the Company $125 million in fiscal year 2023.
On this news, the price of Smucker's stock fell $3.06 per share, or 2.35%, over the following two trading sessions, to close at $127.25 per share on June 9, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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.pomlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
