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TreeHouse Foods Inc (NYSE: THS) Investor Securities Class Action Lawsuit 11/16/2016

  • If you purchased shares of TreeHouse Foods Inc (NYSE: THS), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
TreeHouse Foods Inc.
Security
NYSE: THS

Case Name
TreeHouse Foods Shareholder Class Action Lawsuit 11/16/2016
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of Illinois

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Summary

February 12, 2018 - The court denied defendants' motion to dismiss.

May 26, 2017 - A motion to dismiss the amended consolidated complaint was filed.

March 24, 2017 - An amended consolidated complaint was filed.

November 16, 2016 - An investor in shares of TreeHouse Foods Inc (NYSE: THS) filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by TreeHouse Foods Inc in connection with certain allegedly false and misleading statements made between February 1, 2016 and November 2, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of TreeHouse Foods Inc (NYSE: THS) common shares between February 1, 2016 and November 2, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 1, 2016 and November 2, 2016 the defendants made false and/or misleading statements and/or failed to disclose that the Company’s private label business was underperforming, that the Company’s acquisition strategy was underperforming, that the Company had overstated its full-year 2016 guidance, and that as a result of the foregoing, defendants’ statements about TreeHouse Foods Inc’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

TreeHouse Foods Inc reported that its annual Total Revenue rose from over $2.94 billion in 2014 to over $3.2 billion in 2015 and that its Net Income grew from $89.88 million in 2014 to $114.91 million in 2015.

On November 3, 2016, TreeHouse Foods Inc reported its results for the third quarter 2016 results. TreeHouse Foods Inc lowered its full-year profit forecast and said it would close a plant in Delta, British Columbia and cut jobs at its facility in Battle Creek, Michigan.

In a separate announcement on November 3, 2016, TreeHouse Foods Inc announced that Christopher D. Sliva has tendered his resignation as President in order to pursue another career opportunity.

Shares of TreeHouse Foods Inc (NYSE: THS) declined from $88.54 per share in October 31, 2016 to as low as $67.25 per share in November 3, 2016