Company: Conagra Brands, Inc.
Class Period: June 27, 2018 — December 19, 2018
Court: U.S.D.C. – Northern District of Illinois
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.
Conagra shareholders who purchased shares of the Company stock prior to December 19, 2018 are encouraged to contact Kaskela Law at (888) 715 – 1740, or by completing the information form on this page, to discuss their legal rights and options with respect to this action.