NEW YORK, Nov. 21, 2008 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that it is investigating Pilgrim's Pride Corp. ("Pilgrim's Pride" or the "Company") (NYSE:PPC) for potential violations of the Employee Retirement Income Benefits Security Act of 1974 ("ERISA"). The investigation focuses on investments in Company stock in the Pilgrim's Pride Retirement Savings Plan (the "Plan").
The Brualdi Law Firm, P.C.'s investigation involves concerns that Pilgrim's Pride and other administrators of the Plan may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plan. A breach may have occurred if the fiduciaries failed to manage the assets of the Plan prudently and loyally by investing the assets in Company stock when it was no longer a prudent investment for participants' retirement savings.
If you are a participant in Pilgrim's Pride Retirement Savings Plan and held Company stock in the Plan and you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.