BENSALEM, Pa., March 21, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors of the April 25, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased The Kraft Heinz Company (“Kraft Heinz” or the “Company”) (NASDAQ: KHC) securities between May 4, 2017 and February 21, 2019, inclusive (the “Class Period”). Kraft Heinz investors have until April 25, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Kraft Heinz investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On February 21, 2019, The 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.” On this news, shares of Kraft Heinz fell significantly, thereby injuring investors.
The complaint filed in this class action alleges that 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.
If you purchased shares of Kraft Heinz during the Class Period you may move the Court no later than April 25, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com