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Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Campbell Soup Company Investors (CPB)
[October 03, 2018]

Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Campbell Soup Company Investors (CPB)


Glancy Prongay & Murray LLP ("GPM") announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired securities of Campbell Soup Company ("Campbell" or the "Company") (NYSE: CPB) between August 31, 2017 and May 17, 2018, inclusive (the "Class Period"). Campbell investors have until November 27, 2018 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On May 18, 2018, Campbell announced unsatisfactory financial results for the third quarter, including a $19 million loss for the Campbell Fresh division n the third quarter fiscal 2018, forcing the company to take a $619 million pre-tax non-cash impairment charge for the division and to further revise its fiscal year 2018 earnings guidance. Further, Campbell announced that Denise Morrison was resigning as Chief Executive Officer of the company. On this news, Campbell's share price fell more than 12%, to close at $34.37 per share on May 18, 2018, thereby injuring investors.



The Complaint filed in this class action alleges that throughout the Class Period: (1) Campbell failed to disclose known trends that were negatively impacting the profitability of the Campbell Fresh division; and (2) consequently, 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.

Follow us for updates on Twitter (News - Alert): twitter.com/GPM_LLP.


If you purchased shares of Campbell during the Class Period you may move the Court no later than November 27, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


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