NEW YORK, April 23, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Conagra Brands, Inc. (NYSE: CAG)
Class Period: June 27, 2018 - December 19, 2018, and/or purchased shares of Conagra’s common stock pursuant and/or traceable to Conagra’s secondary public offering commenced on or about October 9, 2018 (“SPO”)
Deadline: April 23, 2019
For more info: www.bgandg.com/cag
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that material information about Conagra’s acquisition of Pinnacle Foods, Inc. (“Pinnacle”), including that: (1) Conagra inadequately performed proper due diligence in connection with the acquisition of Pinnacle; (2) the performance of Pinnacle’s three leading brands was not deteriorating due to intensified competition, but to self-inflicted subpar innovation and executional missteps; (3) Pinnacle’s business was performing so poorly that it had resorted to pushing promotional deals to retailers in an effort to boost sales; and (4) consequently, Defendant’s public statements were materially false and/or misleading and/or lacked a reasonable basis when made.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) Diplomat had downplayed its success in integrating and growing its PBM business, which included LDI Integrated and National Pharmaceutical, two companies Diplomat had acquired in late 2017; (2) consequently, Diplomat would need to record a non-cash impairment charge upwards of approximately $630 million relating to its PBM business and these 2017 acquisitions; (3) due to the foregoing, Diplomat would withdraw its preliminary 2019 full-year outlook issued less than seven weeks prior; and (4) as a result, defendants’ statements about Diplomat’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) the TIVO‑3 trial was inadequately designed to address the OS concerns regarding AVEO’s lead candidate drug, tivozanib, from the TIVO-1 trial presented in the June 2013; (2) tivozanib had insufficient survival data to meet FDA approval following its initial 2013 rejection; (3) this lack of sufficient survival data would put tivozanib at greater risk of delayed FDA approval; and (4) as a result, AVEO’s public statements were materially false and misleading at all relevant times.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com