May 26, 2021 - An amended consolidated complaint was filed.

July 6, 2020 - An investor in shares of Pilgrim’s Pride Corporation (NASDAQ: PPC) filed a lawsuit in the U.S. District Court for the District of Colorado over alleged violations of Federal Securities Laws by Pilgrim’s Pride Corporation in connection with certain allegedly false and misleading statements made between February 9, 2017, and June 3, 2020.

Greeley, CO based Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products in the United States, the United Kingdom, Mexico, France, Puerto Rico, the Netherlands, rest of Europe, the Middle East, Asia, and internationally.

On February 9, 2017, Pilgrim’s Pride filed its annual report for the year ended December 31, 2016, with the SEC on a Form 10-K. In the report Pilgrim’s Pride’s emphasized its “competitive strengths” and advantages regarding its market position in the chicken industry. It further represented that Pilgrim’s Pride’s “full-line product capabilities, high-volume production capacities, research and development expertise and extensive distribution and marketing experience are competitive strengths compared to smaller and non-vertically integrated producers.” Pilgrim's Pride Corporation reported that its annual Total Revenue rose from over $10.93 billion in 2018 to over $11.4 billion in 2019, and that its Net Income increased from $247.94 million in 2018 to $455.92 million in 2019.

On June 3, 2020, it was reported that the chief executive officer of Pilgrim's, America's second-biggest chicken producer, was charged by Federal prosecutors with conspiring to fix prices as part of an antitrust investigation of chicken-processing companies. Shares of Pilgrim's Pride Corporation (NASDAQ: PPC) declined from $33.67 per share in late 2019 to as low as $17.51 per share on June 3, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of Pilgrim’s Pride Corporation (NASDAQ: PPC) common shares between February 9, 2017, and June 3, 2020, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 9, 2017, and June 3, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Pilgrim’s Pride and its executives had participated in an illegal antitrust conspiracy to fix prices and rig bids from at least as early as 2012 and continuing through at least early 2017, that Pilgrim’s Pride received competitive advantages, which persisted during the Class Period, from its anticompetitive conduct, and that as a result, the defendants’ statements about the Pilgrim’s Pride’s business, operations, and prospects lacked a reasonable basis.