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Pilgrim's Pride Corporation PPC Securities Stock Fraud

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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:
A lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of Texas on behalf of those who purchased the common stock of Pilgrim's Pride Corporation between May 5, 2008 and September 24, 2008, inclusive (the "Class Period").

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.

Pilgrim's Pride Corporation PPC Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Pilgrim's Pride Corporation securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.

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