Tyson Foods, Inc.
Lead Plaintiff Deadline: 04/05/2021
SUMMARY OF CASE:
A securities class action has been filed against Tyson Foods, Inc. (TSN) on behalf of persons or entities who purchased or otherwise acquired publicly traded Tyson securities between March 13, 2020 through December 15, 2020. This case has been filed in the USDC – E.D.N.Y.
The Complaint alleges that Defendant provided materially false and/or misleading statements which misrepresented and failed to disclose adverse facts pertaining to the Company’s business, operational and financial results, which were known to Defendants or recklessly disregarded by them. Specifically, Defendants 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.