Pilgrim’s Pride Stock Investment Plan, Retirement Plans

In December of 2008 we brought a class action against certain members of the Pilgrim’s Pride board of directors on behalf of participants of the Pilgrim’s Pride Retirement Savings Plan and the To-Rico, Inc. Employee Savings and Retirement Plan. The complaint alleges that the plan fiduciaries breached their obligations to the plan and to the participants by continuing to invest class members’ retirement assets in Pilgrim’s Pride stock. In particular, the complaint focuses on defendants’ failure to protect the investments of class members in spite of their knowledge that a recent acquisition was drastically hindering the profitability of the company, and that Pilgrim’s Pride was losing large amounts of money through ill-advised supply contracts. Pilgrim’s pride filed for bankruptcy in December of 2008. Have you lost money as a result of your participation in either of the Pilgrim’s Pride retirement plans? Report Your Case.