On September 28, 2018, the initial complaint in this securities class action was filed against Campbell Soup Company (“Campbell” or the “Company”), and certain of Campbell’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.
The complaint alleged that, throughout the class period, the defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the complaint alleged that: (i) the defendants failed to disclose known trends that were negatively impacting the profitability of the Campbell Fresh division; and (ii) as a result of the foregoing, the defendants’ positive statements about the Company’s and the Campbell Fresh division’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
This securities class action lawsuit was brought on behalf of those who purchased or otherwise acquired Campbell common stock of between July 19, 2017 and May 17, 2018, inclusive.
Current Status of Case:
On March 1, 2019, the lead plaintiff filed an amended consolidated complaint. The defendants filed their motion to dismiss the amended consolidated complaint on April 30, 2019. On November 30, 2020, the Court granted the defendants’ motion to dismiss the action without prejudice and with leave for the lead plaintiff to file an amended complaint.
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Kessler Topaz Meltzer & Check, LLP
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Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
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