NEW YORK, Nov. 11, 2016 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Tyson Foods, Inc. (“Tyson” or the “Company”) (NYSE: TSN ) and certain of its officers, on behalf of shareholders who purchased Tyson securities from November 23, 2015 and October 7, 2016, inclusive (the "Class Period").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
The complaint alleges that throughout the Class Period, defendants issued false and misleading statements and/or failed to disclose that Tyson Foods had devised to manipulate chicken prices and as a result, defendants’ statements were materially false and misleading at all relevant times. On September 2, 2016, news sources reported the filing of an antitrust lawsuit against Tyson Foods claiming that it conspired to change the price of broiler-chickens. On October 7, 2016, Pivotal Research downgraded Tyson from “buy” to “sell,” noting apprehensions about a "powerfully convincing" class action against Tyson and some of its industry peers as defendants, alleging price collusion in the broiler-chicken market. The complaint alleges that at the beginning of 2008, Tyson and several other companies conspired by sharing proprietary data and reducing production to support prices. Following this news, Tyson stock has dropped as much as $8.53, or 11.47%, to $65.85 during intraday trading on October 7, 2016.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/tsn or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com . Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Tyson you have until December 16, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
