LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In The Kraft Heinz Company To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in The Kraft Heinz Company (Kraft Heinz or the Company) (NASDAQ:KHC) of the April 25, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

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Key Points: 
  • Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in The Kraft Heinz Company (Kraft Heinz or the Company) (NASDAQ:KHC) of the April 25, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
  • The case, Iron Workers District Council (Philadelphia and Vicinity) Retirement and Pension Plan v. The Kraft Heinz Company, et al., No.
  • Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
  • Faruqi & Faruqi, LLP also encourages anyone with information regarding Kraft Heinzs conduct to contact the firm, including whistleblowers, former employees, shareholders and others.


Faruqi & Faruqi, LLP, a leading national securities law firm, reminds
investors in The Kraft Heinz Company (“Kraft Heinz” or the “Company”)
(NASDAQ:KHC) of the April 25, 2019 deadline to seek the role of lead
plaintiff in a federal securities class action that has been filed
against the Company.

If you invested in Kraft Heinz stock or options between July 6, 2015
and February 21, 2019
and would like to discuss your legal rights, click
here
: www.faruqilaw.com/KHC.
There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at
877-247-4292
or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

The lawsuit has been filed in the U.S. District Court for the Northern
District of Illinois on behalf of all those who purchased Kraft Heinz
securities between July 6, 2015 and February 21, 2019 (the “Class
Period”). The case, Iron Workers District Council (Philadelphia and
Vicinity) Retirement and Pension Plan v. The Kraft Heinz Company, et al.,

No. 19-cv-01845 was filed on March 15, 2019, and has been assigned to
Judge Sharon Johnson Coleman.

The lawsuit focuses on whether the Company and its executives violated
federal securities laws by making false and/or misleading statements
and/or failing to disclose: (1) the probability that Zero Based
Budgeting (“ZBB”) and other cost-saving measures would deliver increased
profitability while simultaneously maintaining base business momentum;
(2) that there were known trends that were negatively impacting the
Company’s organic sales growth and profitability; (3) the ability of the
Company’s pipeline of new products to generate organic growth; (4)
whether “main-stays like Oscar Mayer [and] Kraft cheese” were “tangible
drivers of [a] turnaround in the second half of 2018”; (5) that there
were known trends that resulted in the intangible asset impairments
associated with the Company’s Oscar Mayer and Kraft brands; and (6) that
there were known trends that resulted in the goodwill impairments
affecting its U.S. Refrigerated and Canada Retail divisions.

On November 1, 2018, the Company announced that its Earnings Per Share
(“EPS”) of $0.78 per share fell short of consensus estimates by nearly
4%, while its EBITA missed analysts’ consensus estimates by
approximately $100 million, or 7%.

On this news, the Company’s stock price fell from $56.20 per share on
November 1, 2018 to $50.73 per share on November 2, 2018—a $5.47 or
9.73% drop.

Then, on February 21, 2019, the Company announced its financial results
for the fourth quarter and full year 2018, which fell well below
expectations. The Company reported organic net sales growth of 2.4%,
with an EPS of $0.84, which was $0.10 below consensus estimates, as well
as revenues $50 million below consensus expectations. Kraft Heinz also
announced that the Company’s poor performance required the Company to
take a $15.4 billion non-cash impairment charge related to the goodwill
and intangible assets driven “primarily [by] the Kraft and Oscar Mayer
trademarks” and due “primarily [to] U.S. Refrigerated and Canada Retail.”

On this news, the Company’s stock price fell from $48.18 per share on
February 21, 2019 to $34.95 per share on February 22, 2019—a $13.23 or
27.46% drop.

The court-appointed lead plaintiff is the investor with the largest
financial interest in the relief sought by the class who is adequate and
typical of class members who directs and oversees the litigation on
behalf of the putative class. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their choice, or
may choose to do nothing and remain an absent class member. Your ability
to share in any recovery is not affected by the decision to serve as a
lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding
Kraft Heinz’s conduct to contact the firm, including whistleblowers,
former employees, shareholders and others.

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