| Company: | Pilgrim's Pride Corporation |
| Ticker Symbol: | PPC |
| Class Period: | May-6-08 to Sep-24-08 |
| Date Filed: | Oct-30-08 |
| Lead Plaintiff Deadline: | Dec-29-08 |
| Court: | Eastern District of Texas |
| Allegations: | |
The Complaint charges that Pilgrim's Pride and certain of its officers and directors violated federal securities laws by misrepresenting the Company's financial condition. Specifically, defendants failed to disclose that: (i) the Company's hedges to protect it from adverse changes in costs were not working and in fact were harming the Company's results; (ii) the Company's inability to continue to use illegal workers would adversely affect its margins; (iii) the Company's financial results were continuing to deteriorate rather than improve, such that the Company's capital structure was threatened; (iv) the Company was in a much worse position than its competitors due to its inability to raise prices for customers sufficient to offset cost increases, whereas its competitors were able to raise prices to offset higher costs affecting the industry; and (v) the Company had not made sufficient changes to its business model to succeed in the more difficult industry conditions.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
