The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Conagra Brands, Inc. (NYSE: CAG) (1) between June 27, 2018 and December 19, 2018, including legacy Pinnacle Foods, Inc. common stock holders who received Conagra stock in exchange for their Pinnacle shares; and/or (2) pursuant and/or traceable to Conagra’s secondary public offering on or about October 9, 2018.
According to the Conagra lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: The complaint alleges that defendants failed to disclose material information, including that (i) Conagra inadequately performed proper due diligence in connection with the acquisition of Pinnacle; (ii) the performance of Pinnacle’s three leading brands was not deteriorating due to intensified competition, but to self-inflicted subpar innovation and executional missteps; (iii) Pinnacle’s business was performing so poorly that it had resorted to pushing promotional deals to retailers in an effort to boost sales; and (iv) as a result of the foregoing, Defendant’s public statements were materially false and/or misleading and/or lacked a reasonable basis when made.
If you suffered a loss in Conagra you have until April 23, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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