SAN FRANCISCO, March 19, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Kraft Heinz Company ( KHC) of the April 25, 2019 Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired Kraft Heinz common stock or bonds during the expanded class period – between July 6, 2015 and February 21, 2019 – and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information about the case or to inquire about serving as Lead Plaintiff click
https://www.hbsslaw.com/cases/KHC
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, during the expanded class period Defendants (a) misled investors about whether Kraft’s Zero Based Budgeting and other cost-saving measures would deliver increased profitability while simultaneously maintaining base business momentum and (b) did not disclose known trends that were negatively impacting Kraft’s organic sales growth and profitability.
On February 21, 2019, Defendants announced disappointing financial results for Q4 and FY 2018 and Kraft recorded impairment charges totaling $15.4 billion to reduce goodwill and intangible assets.
This news drove the price of Kraft shares down $13.23, or down about 27.5%, to close at $34.95 on February 22, 2019.
“We’re focused on investors’ losses, the extent to which Defendants’ statements about impairment analysis and asset values may have misled investors, and possible improper use of side agreements,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Kraft Heinz should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 78 attorneys in 9 offices across the country. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
