Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of The Kraft Heinz Company (KHC) Investors

Glancy
Prongay & Murray LLP (“GPM”), a national investors rights law
firm, announces that a class action lawsuit has been filed on behalf of
investors that acquired The Kraft Heinz Company (“Kraft” or the
“Company”) (NASDAQ: KHC)
securities between May 4, 2017 and February 21, 2019,
inclusive (the “Class Period”). Kraft investors have until April 25,
2019 to file a lead plaintiff motion.

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

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, at
310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
or visit our website at www.glancylaw.com.

On February 21, 2019, the Company announced that it received a subpoena
from the Securities and Exchange Commission in October regarding its
“accounting policies, procedures, and internal controls related to its
procurement function, including, but not limited to, agreements, side
agreements, and changes or modifications to its agreements with its
vendors.” On this news, Kraft’s share price fell significantly, thereby
injuring investors.

The complaint filed in this class action alleges that 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.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased shares of Kraft during the Class Period you may move
the Court no later than April 25, 2019 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190319005944/en/