General Mills, Inc. (NYSE:GIS) Investor Investigation Over Potential Securities Laws Violations Announced

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Company Name(s): 
General Mills
Affected Securities: 

October 13, 2015 (Shareholders Foundation) - An investigation on behalf of investors of General Mills, Inc. (NYSE:GIS) shares over potential securities laws violations by General Mills, Inc. and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of General Mills, Inc. (NYSE:GIS) concerning whether a series of statements by General Mills regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On October 5, 2015, General Mills, Inc. announced that it is voluntarily recalling several days of production of Cheerios and Honey Nut Cheerios cereal produced at its Lodi, California facility on certain dates in July of this year because of an undeclared allergen – wheat – with potential adverse health effects.

General Mills, Inc. reported that its Total Revenue declined from over $17.9 billion for the 52 weeks period that ended on May 25, 2015, to over $17.63 billion for the 52 weeks period thaty ended on May 31, 2015 and that its Net Income for those respective time periods declined from over $1.82 billion to over $1.22 billion.

Shares of General Mills, Inc. (NYSE:GIS) grew from $49.29 per share in October 2014 to as high as $59.26 per share on August 14, 2015.