Recent Securities Litigations
Pilgrim’s Pride Corporation Common Stock (NASDAQ: PPC)
According to the Complaint, Pilgrim’s Pride Corporation is a large, vertically integrated producer of meat products. The majority of Pilgrim’s Pride’s annual sales arise from chicken products, which the Company primarily sells to grocers and chain restaurants.
The Complaint alleges that throughout the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose that: (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 early 2017; (2) Pilgrim’s Pride received competitive advantages, which persisted during the Class Period, from its anticompetitive conduct; and (3) as a result, the Defendants’ statements about the Pilgrim’s Pride’s business, operations, and prospects lacked a reasonable basis.