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Tyson Foods Inc (NYSE :TSN) Investor Securities Class Action Lawsuit 10/17/2016

  • If you purchased shares of Tyson Foods Inc (NYSE: TSN), 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

Case Dismissed
Company
Tyson Foods, Inc.
Security
NYSE: TSN

Case Name
Tyson Foods Shareholder Class Action Lawsuit 10/17/2016
Type of Lawsuit
Shareholder Class Action
Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

March 31, 2018 - The court denied the motion for leave to amend the complaint. The case was dismissed.

August 23, 2017 - A motion for leave to amend the complaint was filed.

July 26, 2017 - The court granted defendants' motion to dismiss.

May 3, 2017 - A motion to dismiss the amended consolidated complaint was filed.

March 22, 2017 - An amended consolidated complaint was filed.

December 23, 2016 - The case was transferred to the U.S. District Court for the Western District of Arkansas.

October 17, 2016 - An investor in shares of Tyson Foods Inc (NYSE: TSN) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Tyson Foods Inc in connection with certain allegedly false and misleading statements made between November 23, 2015 and October 7, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Tyson Foods Inc (NYSE: TSN) common shares between November 23, 2015 and October 7, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 23, 2015 and October 7, 2016 Tyson Foods Inc had conspired to fix chicken prices and that, as a result, defendants' statements were allegedly materially false and misleading at all relevant times.

Tyson Foods Inc reported that its Total Revenue rose from over $33.05 billion for the 52 weeks period that ended on Sept. 29, 2012 to $41.37 billion for the 53 weeks period that ended on Oct. 3, 2015 and that its Net Income for those respective time period increased from $583 million to $1.22 billion.

On September 2, 2016, certain media outlets reported the filing of an antitrust lawsuit against Tyson Foods Inc asserting that it conspired to manipulate the price of broiler-chickens.

Shares of Tyson Foods Inc (NYSE: TSN) grew from $15.15 per share in August 2012 to as high as $76.93 per share on September 23, 2016.

On October 7, 2016, Pivotal Research downgraded Tyson Foods Inc from buy to sell, noting apprehensions about a powerfully convincing class action against Tyson Foods Inc and some of its industry peers as defendants, alleging price collusion in the broiler-chicken market. The complaint alleges that at the beginning of 2008, Tyson Foods Inc and several other companies conspired by sharing proprietary data and reducing production to support prices.

Shares of Tyson Foods Inc (NYSE: TSN) declined to as low as $65.85 per share on October 7, 2016.