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Campbell Soup Company (CPB)

NYSE:CPB

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Campbell Soup Company To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Campbell Soup Company (“Campbell” or the “Company”) (NASDAQ:CPB) of the November 27, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Campbell stock or options between August 31, 2017 and May 17, 2018 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Campbell Soup common stock between August 31, 2017 and May 17, 2018 (the “Class Period”).  The case, Marder v. Campbell Soup Company et al., No. 18-cv-14385 was filed on September 28, 2018, and has been assigned to Judge Noel L. Hillman.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) known trends were negatively impacting the profitability of the Campbell Fresh division; and (2) as a result of the foregoing, 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.

Specifically, on November 21, 2017, the company announced disappointing first quarter 2018 financial results and reduced its fiscal year 2018 earnings guidance.

On this news, the Company’s share price fell from $49.93 per share on November 20, 2017 to $45.84 per share on November 21, 2018—a $4.09 or 8.19% drop.

Then, on February 16, 2018, the Company announced more disappointing financial results for the second quarter of 2018, which were driven by “continued challenges” in Campbell Fresh.

On this news, the Company’s share price fell—over four trading days—from $47.70 per share on February 15, 2018 to $42.20 per share on February 21, 2018.
Then, on May 18, 2018, the Company reported disappointing financial results for the third straight quarter and admitted that the Campbell Fresh division was not profitable for the first nine months of fiscal 2018. The Company also announced that its Denise Morrison would step down immediately as CEO.

On this news, the Company’s share price declined from $39.22 per share on May 17, 2018 to $35.37 per share on May 18, 2018—a $4.85 or 12.37% drop.

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  • Case:
    Campbell Soup Company (CPB)
  •    

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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 10/02/2018

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