Pilgrim’s Issues Statement on Recent DOJ Action
Rhea-AI Summary
On June 3, 2020, Pilgrim's (NASDAQ: PPC) announced an indictment against a current executive and two former employees. The company emphasizes its commitment to ethical standards, governance, and competition that benefits consumers. Pilgrim's pledges full cooperation with the ongoing investigation by the Department of Justice.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Positive
- Commitment to high ethical standards and governance.
- Willingness to cooperate fully with the Department of Justice.
Negative
- Indictment against current executive and two former employees could affect company reputation.
News Market Reaction – PPC
On the day this news was published, PPC gained 1.34%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
GREELEY, Colo., June 03, 2020 (GLOBE NEWSWIRE) -- Today, Pilgrim’s [NASDAQ: PPC] was informed of an indictment against a current executive and two former Pilgrim’s employees. We take this matter very seriously. The company is committed to high ethical standards, governance, and free and open competition that benefits both customers and consumers.
Pilgrim’s will continue to fully cooperate with the Department of Justice in their investigation.
Media Contact:
Cameron Bruett
cameron.bruett@jbssa.com
970.506.7801