NEW YORK, March 01, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of The Kraft Heinz Company (NASDAQ: KHC) from May 4, 2017 through February 21, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Kraft Heinz investors under the federal securities laws.
To join the Kraft Heinz class action, go to http://pawarlawgroup.com/cases/the-kraft-heinz-company/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Kraft’s internal controls, specifically with respect to its procurement area, were inadequate; (2) Kraft would be forced to write down a significant amount of goodwill and certain intangible assets in its Kraft natural cheese business, its Oscar Mayer cold cuts business, and its Canada retail business due to supply chain issues; (3) Kraft failed to advise investors of the foregoing issues; and (4) as a result, Kraft’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 25, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/the-kraft-heinz-company/ or to discuss your rights or interests regarding this class action, please contact Vik Pawar of Pawar Law Group toll free at 888-589-9804 or via email at info@pawarlawgroup.com.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world.
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Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com