On or around 10/20/2020 (Date of last review)
Filing Date: February 24, 2019
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.
Company & Securities Information
Defendant: The Kraft Heinz Company
Sector: Consumer Non-Cyclical
Industry: Food Processing
Headquarters: United States
Ticker Symbol: KHC
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
George A. Hedick, Jr., et al. v. The Kraft Heinz Company, et al.