To join this class action, please complete the following Investor Certification. [contact-form-7 id=”938″ title=”Campbell Soup Company Investor Certification”]
Oklahoma City, OK (October 11, 2018) – On September 28, 2018, a securities class action lawsuit was filed in the United States District Court for the District of New Jersey against Campbell Soup Company (NYSE: CPB). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is August 31, 2017 through May 31, 2018. More specifically, on November 21, 2017, the company announced disappointing first quarter 2018 financial results and reduced its fiscal year 2018 earnings guidance. On this news, the Company’s share price fell from $49.93 per share on November 20, 2017 to $45.84 per share on November 21, 2018—a $4.09 or 8.19% drop.
Then, on February 16, 2018, the Company announced more disappointing financial results for the second quarter of 2018, which were driven by “continued challenges” in Campbell Fresh. On this news, the Company’s share price fell—over four trading days—from $47.70 per share on February 15, 2018 to $42.20 per share on February 21, 2018.
Then, on May 18, 2018, the Company reported disappointing financial results for the third straight quarter and admitted that the Campbell Fresh division was not profitable for the first nine months of fiscal 2018. The Company also announced that its Denise Morrison would step down immediately as CEO. On this news, the Company’s share price declined from $39.22 per share on May 17, 2018 to $35.37 per share on May 18, 2018—a $4.85 or 12.37% drop.
Plaintiff seeks to recover damages on behalf of all Campbell Soup Company shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Tuesday, November 27, 2018 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact: Robin Hester at firstname.lastname@example.org