NEW YORK–(BUSINESS WIRE)–Entwistle & Cappucci LLP (“Entwistle & Cappucci”) announced it has filed
a securities class action lawsuit on behalf of persons or entities that
purchased Kraft Heinz Company (“Kraft Heinz” or the “Company”) common
stock (NASDAQ: KHC), purchased call options on Kraft Heinz common stock,
sold put options on Kraft Heinz common stock and/or purchased futures on
Kraft Heinz common stock during the period July 6, 2015 through February
21, 2019, inclusive (the “Class Period”). The case was filed in the
United States District Court for the Northern District of Illinois, Case
No. 1:19-cv-02807, against Kraft Heinz and related defendants
(collectively, “Defendants”).
The class action asserts claims under Sections 10(b), 20(a) and 20A of
the Securities Exchange Act of 1934. The complaint alleges that, during
the Class Period, the Defendants made materially false and misleading
statements and failed to disclose material adverse facts concerning the
Company’s business prospects, accounting practices and the value of its
brands. The subject misstatements were corrected by a series of partial
disclosures, the most recent of which was the February 21, 2019
announcement that the Company would be taking a $15.4 billion goodwill
impairment write-down relating primarily to its Kraft and Oscar Mayer
brands. In addition, the complaint alleges that private equity firm 3G
Capital Inc. sold shares while in knowing possession of material,
nonpublic information concerning the Company’s upcoming write-down. In
this action, the Plaintiff seeks an award of damages, and prejudgment
interest, to Plaintiff and other Class members.
On May 1, 2019, the Honorable Robert M. Dow, Jr. set a briefing schedule
for the appointment of lead plaintiff. Response/position briefs are due
on May 15, 2019 and reply briefs are due on May 22, 2019.
If you wish to discuss this Action or have any questions concerning this
notice or your rights or interests, please contact: Andrew J. Entwistle,
Esq. of Entwistle & Cappucci at (512) 710-5960 or via e-mail at [email protected];
or Robert N. Cappucci, Esq. of Entwistle & Cappucci at (212) 894-7200 or
via e-mail at [email protected].
About Entwistle & Cappucci
Entwistle & Cappucci is a national law firm providing exceptional legal
representation to clients globally in the most complex and challenging
legal matters. Our practice encompasses all areas of litigation,
including securities, antitrust, corporate transactions, general
corporate and commercial, creditor’s rights and bankruptcy, corporate
governance and fiduciary duty, government affairs, insurance,
investigations and white collar defense. Our clients include public and
private corporations, major hedge funds, public pension funds,
governmental entities, leading institutional investors, domestic and
foreign financial services companies, emerging business enterprises and
individual entrepreneurs.
Contacts
ENTWISTLE & CAPPUCCI LLP
Andrew J. Entwistle, Esq. ([email protected])
500
W. 2nd Street, Suite 1900-16
Austin, TX 78701
Telephone: (512)
710-5960
ENTWISTLE & CAPPUCCI LLP
Robert N.
Cappucci, Esq. ([email protected])
299
Park Avenue, 20th Floor
New York, New York 10171
Telephone:
(212) 894-7200
www.entwistle-law.com
