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NEW YORK, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Seaboard Corp. (NYSE American: SEB) (“Seaboard” or the “Company”).
The investigation concerns whether Seaboard Corp. and certain of its officers and/or directors have engaged in securities fraud.
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Seaboard and its subsidiaries are a diversified group of companies that operate worldwide in agricultural and ocean transport businesses. Seaboard is primarily engaged in hog production and pork processing in the U.S.; commodity trading and grain processing in Africa and South America; cargo shipping services in the U.S., Caribbean and Central and South America, sugar, and alcohol production in Argentina; and electric power generation in the Dominican Republic.
On October 29, 2024, the Company disclosed a net loss of $149 million, equating to a loss of $153.44 per share. Seaboard reported total revenue of $2.2 billion for the quarter. The loss reflects challenges in the pork sector, which include high input costs and fluctuations in pork prices.
Months earlier, on August 1, 2024, the Company agreed to settle two lawsuits regarding its involvement in a price-fixing conspiracy with other pork producers. The settlements, totaling nearly $15 million, address claims that date back to 2009.
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly lauded by the courts, which have appointed it to major positions in complex securities, multi-district and consolidated litigation.
If you wish to discuss this investigation or have any questions regarding your rights and interests, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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