According to the Complaint, the Kraft Heinz Company ("Kraft" or the "Company") manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally.

The Complaint alleges that during the Class Period, 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.

On October 8, 2019, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed a consolidated Complaint on January 6, 2020. On May 11, the Court issued an Order consolidating cases. On August 14, Lead Plaintiffs filed a consolidated amended Complaint. Defendants filed Motions to Dismiss the consolidated amended Complaint on September 28. On August 11, 2021, the Court issued an Order denying Defendants' Motions to Dismiss.

On February 16, 2023, the parties notified the Court that they had reached an agreement in principle to Settle the case. The parties entered into a Stipulation and Agreement of Settlement on May 2. On May 11, the Court granted preliminary approval of the Settlement. On September 12, the Court granted final approval of the Settlement and entered Final Judgment.