GRABAR LAW OFFICE INVESTIGATES POTENTIAL SHAREHOLDER DERIVATIVE ACTION ON BEHALF OF PILGRIM’S PRIDE CORP. SHAREHOLDERS (NASDAQ: PPC)

Pilgrim’s Pride Corp. (NASDAQ: PPC) has pled guilty to conspiring to fix the price of broiler chicken products and was sentenced to pay roughly $107.9 million in criminal fines. Pilgrim's Pride CEO, Fabio Sandri, admitted to one count of violating the Sherman Antitrust Act for the company's role in conspiring to fix broiler chicken prices. Prosecutors said that from 2012 through at least 2017, Pilgrim's Pride conspired with other producers to suppress and eliminate competition by rigging bids and fixing prices for certain broiler chicken products in the U.S.  

In related civil antitrust litigation Pilgrim's Pride has agreed to a $75 million settlement.

Current Pilgrim’s Pride shareholders who have held shares of the Company’s stock since at least 2012 have standing to seek corporate governance reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate. $PPC

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