SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders With Losses on
Their Investment in Yum! Brands, Inc. of Class Action Lawsuit and Upcoming
Deadline -- YUM
NEW YORK, March 22, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford
Dahlstrom & Gross LLP has filed a class action lawsuit against Yum! Brands,
Inc., ("Yum" or the "Company") (NYSE:YUM) and certain of its officers. The
class action filed, in United States District Court, for the Central District
of California , and docketed under SACV13-173-AG, is on behalf of a class
consisting of all persons or entities who purchased or otherwise acquired
securities of Yum between October 9, 2012 and January 7, 2013, both dates
inclusive (the "Class Period"). This class action seeks to recover damages
against the Company and certain of its officers and directors as a result of
alleged violations of the federal securities laws pursuant to Sections 10(b)
and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated
If you are a shareholder who purchased Yum securities during the Class Period,
you have until March 25, 2013 to ask the Court to appoint you as Lead
Plaintiff for the class. A copy of the Complaint can be obtained at
www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby
at email@example.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237.
Those who inquire by e-mail are encouraged to include their mailing address
and telephone number.
Yum describes itself as the world's largest quick service restaurant company
based on number of system units, with approximately 37,000 units in more than
120 countries and territories. Through the three concepts of KFC, Pizza Hut
and Taco Bell, the Company develops, operates, franchises and licenses a
worldwide system of restaurants.
Throughout the Class Period, the Company's defendants made materially false
and misleading statements concerning the Company's current and future business
and financial condition. In particular, the complaint alleges that (a) the
defendants knew but concealed that Yum's own food safety inspections had
already found that Chinese chicken supplier Shandong Liuhe Group had sold the
Company chickens with high levels of antibiotics and other illegal drugs and
/or chemicals; and (b) the Company had continued to buy products from Shandong
Liuhe Group until as late as August 2012.
On November 23, 2012, reports in the Chinese media disclosed that certain of
the Company's chicken suppliers had been feeding toxic chemicals to chickens
sold to KFC China.
On December 20 and 21, 2012, news reports began to circulate that the Company
knew well before the Class Period that certain chicken suppliers in China had
injected chickens with excessive antibiotics and other illegal chemicals but
sought to conceal these facts.As a result of the December 20 and 21, 2012
disclosures, Yum's stock price declined 5% from a close of $67.16 per share on
December 19, 2012 to $63.88 per share on December 21, 2012.
The Pomerantz Firm, with offices in New York, Chicago, and San Diego, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the Pomerantz Firm
pioneered the field of securities class actions. Today, more than 70 years
later, the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of fiduciary duty,
and corporate misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
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