| COMPANY |
Campbell Soup Company |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
18-cv-014385 |
| JUDGE |
The Honorable Noel Lawrence Hillman |
| CLASS PERIOD |
July 19, 2017 - May 17, 2018 |
| SECURITY TYPE |
Common Stock |
Case Background:
On September 28, 2018, the initial complaint in this securities class action was filed against Campbell Soup Company (“Campbell” or the “Company”), and certain of Campbell’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf of all persons and entities who purchased or otherwise acquired Campbell’s common stock from July 19, 2017 through May 17, 2018, both dates inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically: (1) Defendants failed to disclose known trends that 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.
Current Status of Case:
On January 15, 2021, Lead Plaintiffs filed a second amended class action complaint (the “Amended Complaint”) against Defendants. On March 10, 2021, Defendants filed a Motion to Dismiss the Amended Complaint. On October 12, 2022, the Court issued an Order granting Defendants’ Motion to Dismiss the Amended Complaint. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.