McCormick & Company, Incorporated (NYSE: MKC)
Hagens Berman Sobol Shapiro LLP alerts investors in McCormick & Company, Incorporated (NYSE: MKC) to the firm's investigation into possible disclosure violations.
If you purchased or otherwise acquired securities of MKC between September 1, 2018 and January 23, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing MKC@hbsslaw.com.
On January 24, 2019, McCormick and senior management reported disappointing Q4 2018 financial results in part because the Company “substantially under-shipped consumer consumption due to trade inventory reductions.”
Management further stated “[o]verall . . . the trade inventory reductions resulted in significant out-of-stock situations on high-margin holiday items, therefore negatively impacting our fourth quarter adjusted operating income.”
This news drove the price of McCormick shares down as much as $20.00, or over 14%, during intraday trading on January 24, 2019.
“We’re focused on investors’ losses and the extent to which the Company’s and management’s statements may have been misleading,” said Hagens Berman partner Reed Kathrein.
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