Portnoy Law: Lawsuit Filed On Behalf of Pilgrim's Pride Corporation Investors

Monday, 13. July 2020 22:10

LOS ANGELES, July 13, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Pilgrim's Pride Corporation ("Pilgrim's Pride" or "the Company") (NASDAQ: PPC) investors that acquired securities between February 9, 2017, and June 3, 2020.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

Jayson Penn, the chief executive officer of Pilgrim’s Pride Corp. (NASDAQ: PPC) charged by U.S. prosecutors of conspiring to fix prices, has begun a paid leave of absence effective immediately according to a statement by the company. A federal indictment, revealed in early June 2020, disclosed evidence of Mr. Penn directly discussing the alleged price-fixing with colleagues.

The United States Department of Justice has taken action to protect consumers from price fixing, and rising food prices, issuing a press release on June 3, 2020 on the matter. Assistant Attorney General Makan Delrahim of the Department of Justice’s Antitrust Division states, “[p]articularly in times of global crisis, the division remains committed to prosecuting crimes intended to raise the prices Americans pay for food. Executives who cheat American consumers, restauranteurs, and grocers, and compromise the integrity of our food supply, will be held responsible for their actions.”

The lawsuit alleges that the Company misled investors about the Company’s regulatory liabilities, and that the Company’s actions in fact placed the Company into direct violation of antitrust laws and exposed the Company to severe regulatory risk.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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