We are investigating Pilgrim’s Pride Corporation (PPC) (“Pilgrim’s Pride” or the “Company”) for potential violations of the federal securities laws.
On June 3, 2020, the U.S. Department of Justice announced that “[a] federal grand jury in U.S. District Court in Denver, Colorado, returned an indictment against four executives for their role in a conspiracy to fix prices and rig bids for broiler chickens.” The indicted executives included Pilgrim’s Pride Chief Executive Officer Jayson Penn and former vice president Roger Austin. On this news, Pilgrim’s Pride’s stock price fell $2.58 per share, or 12.36%, to close at $18.29 per share on June 3, 2020.