Company: Conagra Brands, Inc.
Class Period: June 27, 2018 — December 19, 2018
Court: U.S.D.C. – Northern District of Illinois
Deadline: April 23, 2019
A shareholder class action complaint has been filed against Conagra Brands, Inc. (“Conagra”) on behalf of investors who purchased shares of the Company’s stock between June 27, 2018 and December 19, 2018 (the “Class Period”).
The complaint alleges that the defendants made false and misleading statements and/or failed to disclose material adverse information to investors during the Class Period concerning Conagra’s acquisition of Pinnacle Foods, Inc. (“Pinnacle”).
According to the complaint, on December 20, 2018, Conagra “revealed that Pinnacle’s three leading brands had ‘suffered sales and distribution losses’ in 2018, and accounted ‘for the vast majority of Pinnacle’s current challenges’ due to self-inflicted subpar innovation and executional missteps.” Following this news, shares of the Company’s stock fell $4.81 per share, or over 17% in value, to close on December 20, 2018 at $24.28 per share.
IMPORTANT DEADLINE: Conagra investors may, no later than April 23, 2019, seek to be appointed as a lead plaintiff representative of the class.
For additional information about this action, or to discuss your legal rights and options with respect to this action, please contact Kaskela Law LLC at (888) 715 – 1740 or complete the information form on this page.