The Kraft Heinz Company

Case Details

Class Period:
May 4, 2017 – February 21, 2019
Date Filed:
February 24, 2019
Case Number:
1:19-cv-01339
Jurisdiction:
Northern District of Illinois

Case Summary

According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Kraft's internal controls, specifically with respect to its procurement area, were inadequate; (2) Kraft would be forced to write down a significant amount of goodwill and certain intangible assets in its Kraft natural cheese business, its Oscar Mayer cold cuts business, and its Canada retail business due to supply chain issues; (3) Kraft failed to advise investors of the foregoing issues; and (4) as a result, Kraft's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Action Details

View Complaint (pdf)

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