Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Campbell Soup Company
LOS ANGELES--(BUSINESS WIRE)--Oct 5, 2018--National class action law firm Glancy Prongay & Murray LLP (“GPM”) reminds investors of the October 9, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Campbell Soup Company (“Campbell” or the “Company”) (NYSE: CPB ) securities between August 31, 2017 and May 17, 2018, inclusive (the “Class Period”). Campbell investors have until November 27, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On May 18, 2018, Campbell announced poor financial results for the third quarter, including a $19 million loss for the Campbell Fresh division in the third quarter fiscal 2018, forcing the company to take a $619 million pre-tax non-cash impairment charge for the division and to further revise its fiscal year 2018 earnings guidance. Further, Campbell announced that Denise Morrison was resigning as Chief Executive Officer of the company. On this news, Campbell’s share price fell more than 12%, to close at $34.37 per share on May 18, 2018, thereby injuring investors.
The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Campbell failed to disclose known trends that were negatively impacting the profitability of the Campbell Fresh division; and (2) consequently, Defendants’ positive statements about the Company’s and the Campbell Fresh division’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares Campbell during the Class Period you may move the Court no later than November 27, 2018 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181005005029/en/
CONTACT: Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
Copyright Business Wire 2018.
PUB: 10/05/2018 10:30 AM/DISC: 10/05/2018 10:30 AM