Tyson Foods, Inc.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Tyson Foods, Inc. (“Tyson” or the “Company”) (NYSE: TSN) securities during the period from March 13, 2020 through December 15, 2020 (the “Class Period”). Investors have until April 5, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Tyson knew, or should have known, that the highly contagious coronavirus was spreading throughout the globe; (2) Tyson did not in fact have sufficient safety protocols to protect its employees in its facilities; (3) as a result, Tyson employees contracted and spread the coronavirus within the facilities; (4) as a result of the foregoing, Tyson would face negative impact to its production, including complete shutdowns of certain facilities; (5) due to the failure to protect its employees, Tyson would suffer financial harm related to its lowered production; and (6) as a result, Defendants public statements were materially false and/or misleading at all relevant times.
On December 15, 2020, New York City Comptroller Scott M. Stringer (“Comptroller Stringer”) called on the SEC to open an investigation into Tyson. In his letter to the SEC, Comptroller Stringer described Tyson’s various failures to carry out its stated coronavirus protection policies. On this news, the price of Tyson shares fell $1.78 per share, or 2.5%, to close at $68.25 per share on December 15, 2020.
If you purchased or otherwise acquired Tyson securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.