NEW YORK, NY / ACCESSWIRE / September 5, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Tyson Foods, Inc. (Tyson” or the “Company”) (NYSE:TSN). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/tsn.
The investigation concerns whether Tyson and certain of its officers and/or directors have violated federal securities laws.
On September 3, 2019, post-market, Tyson issued a press release entitled “Tyson Foods Experiencing Short-Term Challenges in Fiscal Fourth Quarter.” Specifically, Tyson advised investors that “[t]hese challenges include margin compression related to a reversal of a gain on mark to market grain derivatives recognized in our third quarter, commodity market volatility, implementation of enhanced food safety initiatives, a beef processing plant fire, and slower than expected operational improvements in the Chicken segment.” Accordingly, Tyson revised its fiscal 2019 adjusted earnings guidance downward to a range of $5.30 to $5.70 per share. On September 4, 2019, at an investor conference, Tyson’s Chief Executive Officer advised investors that the Company had slowed chicken processing after recalling millions of pounds of poultry over concerns that they contained extraneous materials, such as rubber and metal, and that the slower processing had led to higher costs that contributed significantly to the Company’s revised earnings guidance. On this news, Tyson’s stock price fell $7.23 per share, or 7.75%, to close at $86.06 per share on September 4, 2019.
If you are aware of any facts relating to this investigation, or purchased Tyson shares,you can assist this investigation by visiting the firm’s site: www.bgandg.com/tsn. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC