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Case Status:    ONGOING    
On or around 05/12/2020 (Date of last review)

Filing Date: March 25, 2020

According to the Complaint, The Kraft Heinz Company was created through a merger between Heinz and Kraft on July 2, 2015 and began trading publicly on July 6, 2015. Following the Merger, Kraft Heinz was the third largest food and beverage manufacturer in North America and the fifth largest globally with more than $28 billion in global sales, and the steward of numerous iconic brands, including Heinz ketchup, Oscar Mayer meats, Kraft cheese products, Maxwell House coffee, Jell-O desserts, and Philadelphia cream cheese. During the Class Period, Kraft Heinz derived the vast majority of its revenue from sales in the United States and Canada.

The Complaint alleges that throughout the Class Period, Defendants: (a) employed devices, schemes, and artifices to defraud; (b) made untrue statements of material facts or omitted to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; and/or (c) engaged in acts, practices, and a course of business that operated as a fraud or deceit upon Plaintiff and others similarly situated in connection with their purchases of Kraft Heinz common stock and options during the Class Period. Specifically, the Complaint alleges those statements included, but were not limited to: misleading statements concealing that Kraft Heinz’s cost-cutting measures had severely impaired the Company’s supply chain and brand value; misleading statements concealing that Kraft Heinz’s cost reductions were not synergistic, efficiency-generating, or sustainable, but were instead brute force cost cuts that impaired core business functions; misleading statements purporting to accurately report Kraft Heinz’s financial results; misleading statements reassuring investors about the integrity of Kraft Heinz’s internal controls and the robustness of its goodwill impairment testing.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Food Processing
Headquarters: United States

SECURITIES INFORMATION:

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.
COURT: N.D. Indiana
DOCKET #: 20-CV-01970
JUDGE: Hon. Sharon Johnson Coleman
DATE FILED: 03/25/2020
CLASS PERIOD START: 07/02/2015
CLASS PERIOD END: 11/04/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Grant & Eisenhofer (New York)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available