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Settlement Proposed in Pilgrims Pride Securities Class Action Lawsuit


This is a settlement for the Securities/Stock Fraud lawsuit.

Marshall, TX: A settlement has been proposed in the securities class action pending against Pilgrim's Pride Corporation. The settlement, if approved, could affect all persons and entities who purchased or otherwise acquired the common stock of Pilgrim's Pride Corporation from May 5, 2008 to October 28, 2008, inclusive, including all those who purchased the common stock of Pilgrim's Pride Corporation pursuant and/or traceable to any registration statement, prospectus, prospectus supplement or any documents therein incorporated by reference filed with the U.S. Securities and Exchange Commission in connection with the Company's May 14, 2008 Secondary Offering, and who were damaged thereby (the "Class").

Pursuant to Rule 23 of the Federal Rules of Civil Procedure and Order of the Court, that the above-captioned action has been certified as a class action for purposes of settlement only and that a settlement for One Million Five Hundred Thousand Dollars ($1,500,000) has been proposed. A hearing will be held on May 1, 2012 to determine: (1) whether the proposed Settlement should be approved as fair, reasonable and adequate; (2) whether the Action should be dismissed with prejudice against Defendants; (3) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (4) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.

To participate in the Settlement, you must submit a Proof of Claim postmarked not later than June 9, 2012. If you are a member of the Class and do not submit a valid Proof of Claim, you will not share in the Settlement but you nevertheless will be bound by the Judgment entered by the Court in this litigation. The deadline for submitting objections and requests for exclusion is April 17, 2012. For more information visit PilgrimsPrideSecuritiesSettlement.com

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Published on Feb-20-12


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