Pilgrim’s Issues Statement on Recent DOJ Action

On June 3, 2020, Pilgrim's (NASDAQ: PPC) announced an indictment against a current executive and two former employees.

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.

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.

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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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the recent indictment involving Pilgrim's (PPC)?

Pilgrim's announced an indictment against a current executive and two former employees on June 3, 2020.

How is Pilgrim's responding to the indictment of its employees?

Pilgrim's is committed to high ethical standards and is cooperating with the Department of Justice in their investigation.

What are the implications of the indictment for Pilgrim's (PPC)?

The indictment may affect the company's reputation and stakeholder trust.

When did Pilgrim's announce the indictment against its employees?

The indictment was announced on June 3, 2020.