The Kraft Heinz Company (NASDAQ: KHC) Investor Securities Class Action Lawsuit 02/25/2019

If you purchased a significant amount of shares of The Kraft Heinz Company (NASDAQ: KHC) between May 4, 2017 and February 21, 2019, and / or if you purchased any NASDAQ: KHC shares prior to May 2017 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: April 25, 2019. NASDAQ: KHC investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
The Kraft Heinz Company
Case Name: 
The Kraft Heinz Company Shareholder Class Action Lawsuit 02/25/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: KHC
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
02/25/2019
Class Period Begin: 
05/04/2017
Class Period End: 
02/21/2019
Court of Filing: 
U.S. District Court for the Western District of Pennsylvania
Deadline To File for Lead: 
04/25/2019
Summary: 

An investor, who purchased shares of The Kraft Heinz Company (NASDAQ: KHC), filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by The Kraft Heinz Company in connection with certain allegedly false and misleading statements made between May 4, 2017 and February 21, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of The Kraft Heinz Company (NASDAQ: KHC) common shares between May 4, 2017 and February 21, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between May 4, 2017 and February 21, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Kraft Heinz Company’s internal controls, specifically with respect to its procurement area, were inadequate, that Kraft Heinz Company 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, that Kraft Heinz Company failed to advise investors of the foregoing issues, and that as a result, Kraft’s public statements were materially false and misleading at all relevant times.

Pittsburgh, PA based The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. On February 21, 2019, the Kraft Heinz Company announced its quarterly results, including a $15 billion charge related to the value of its marquee Kraft and Oscar Mayer trademarks, and said cut its dividend from 63 cents per share to 40 cents per share. The company's chief financial officer said he expected the Kraft to "take a step backwards in 2019." Furthermore, The Kraft Heinz Company announced that it received a subpoena from the Securities and Exchange Commission in October regarding its “accounting policies, procedures, and internal controls related to its procurement function, including, but not limited to, agreements, side agreements, and changes or modifications to its agreements with its vendors.” Shares of The Kraft Heinz Company (NASDAQ: KHC) declined from $48.66 per share on February 21, 2019 to as low as $33.33 per share on February 26, 2019.