Campbell Soup Company (NYSE: CPB)
Hagens Berman Sobol Shapiro LLP alerts investors in Campbell Soup Company (NYSE: CPB) to the November 27, 2018 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the District of New Jersey.
If you purchased or otherwise acquired shares of CPB between August 31, 2017 and May 17, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing CPB@hbsslaw.com.
During the class period, Defendants repeatedly assured investors they expected the Company’s Campbell Fresh division would return to profitable growth.
Then, on May 18, 2018, Campbell Soup and management announced disappointing financial results for the third straight quarter, a $619 million impairment charge for the Campbell Fresh division, downward revisions to 2018 earnings guidance, and the departure of its CEO.
This news drove the price of Campbell Soup shares down $4.85, or over 12%, that day.
“We’re focused on investors’ losses, whether Defendants’ statements about known adverse trends relating to Campbell Fresh were misleading, and when Defendants knew of events triggering the impairments,” said Hagens Berman partner Reed Kathrein.
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