Pilgrims Pride Corp
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Consumer Staples : Food Products | Small Cap Value
Company profile

Pilgrim's Pride Corporation is primarily engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors and foodservice operators. The Company operates through three segments: United States (U.S.), United Kingdom (U.K.) and Europe, and Mexico. The Company’s Fresh products consist of refrigerated (nonfrozen) whole or cut-up chicken, frozen whole chickens, breast fillets, primary pork cuts, added value pork and pork ribs. Its Prepared products include portion-controlled breast fillets, tenderloins and strips, delicatessen products, salads, formed nuggets and patties and bone-in chicken parts. Its Exported products primarily consist of whole chickens and chicken parts sold either refrigerated for distributors in the United States or frozen for distribution to export markets, and Market overview consists of chain restaurants, food processors, broad-line distributors and certain other institutions.

Closing Price
Day's Change
-0.55 (-2.37%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

Grabar Law Office Investigates Claims on Behalf of Pilgrim's Pride Corp. (PPC) Shareholders

10:05 am ET March 2, 2023 (Newsfile) Print

Philadelphia, Pennsylvania--(Newsfile Corp. - March 2, 2023) - Grabar Law Office is investigating potential claims on behalf of Pilgrim's Pride Corp. (NASDAQ: PPC) shareholders. The investigation concerns whether certain officers and directors of Pilgrim's Pride have breached their fiduciary duties owed to the company.

Pilgrim's Pride has previously pled guilty to conspiring to fix the price of broiler chicken products and was sentenced to pay roughly $107.9 million in criminal fines. In related civil antitrust litigation Pilgrim's Pride agreed to a $75 million settlement.

On February 9, 2022, Pilgrim's Pride was informed that the Department of Justice ("DOJ") opened a civil investigation into human resources antitrust matters. It has been reported that this investigation centers around whether Pilgrim's Pride engaged in anticompetitive sharing about employment practices that held down plant workers' wages.

On October 6, 2022, Pilgrim's Pride was informed that the DOJ opened a civil investigation into Pilgrim's Pride's grower contracts and grower payment practices. It is alleged that Pilgrim's Pride illegally agreed to share detailed data on grower compensation with other processors, with the purpose and effect of artificially depressing compensation to growers.

Current long-term Pilgrim's Pride shareholders may be able to seek corporate reforms, the return of funds back to company coffers, and a court approved incentive award if appropriate.

If you would like to learn more at no cost to you, you are encouraged to visit https://grabarlaw.com/the-latest/pilgrims-pride-shareholder-investigation/, contact us at jgrabar@grabarlaw.com or call Joshua Grabar at 267-507-6085.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/156935

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