December 27 Deadline Alert: Law Offices of Howard G. Smith Reminds Sanderson Farms, Inc. Investors of Upcoming Lead Plaintiff Deadline and Encourage Investors to Contact the Firm

BENSALEM, Pa.--(BUSINESS WIRE)--

Law Offices of Howard G. Smith reminds investors of the upcoming December 27, 2016 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Sanderson Farms, Inc. ("Sanderson" or the "Company") SAFM securities between December 17, 2013 and October 6, 2016, inclusive (the "Class Period"). Sanderson investors have until December 27, 2016 to file a lead plaintiff motion.

Sanderson is an integrated poultry processing company that produces, processes, markets and distributes fresh, frozen and prepared chicken products in the United States.

According to Complaint filed in this lawsuit, beginning in 2008, Sanderson and other companies in the poultry industry colluded to fix chicken prices by sharing proprietary data and reducing production to support prices. The complaint further alleges that: (1) Sanderson Farms systematically colluded with several of its industry peers to fix prices in the market for broiler chickens; (2) the foregoing conduct violated federal antitrust laws; (3) in turn, Sanderson Farms' revenues during the Class Period were the result of illegal conduct; and (4) as a result, Sanderson Farms' public statements were materially false and misleading at all relevant times.

On September 2, 2016, the public was alerted to Defendants' fraud, when food distributor Maplevale Farms, Inc. ("Maplevale") filed an antitrust class action complaint against Sanderson and several other poultry producers, including Tyson Foods, Inc. ("Tyson") in U.S. District Court for the Northern District of Illinois. The complaint alleged that Sanderson and the other companies named in the complaint had schemed since 2008 to manipulate broiler chicken prices in violation of the Sherman Antitrust Act.

Several more class action complaints were filed against Sanderson and other poultry companies. These complaints were on behalf of individual consumers and indirect purchasers of broiler chickens, similarly alleging that Sanderson and had manipulated the price described in Maplevale's complaint. On October 4, 2016, a group of individual consumers filed an antitrust class action complaint in U.S. District Court for the Northern District of Illinois (the "Monahan Complaint") against Sanderson and several of its industry peers, including Tyson, alleging violations of the Sherman Act. Following the Monahan Complaint filing, Sanderson stock dropped $3.98 per share, or 4.14%, to close at $92.21 on October 4, 2016.

If you purchased Sanderson shares, you may move the Court no later than December 27, 2016 to request appointment 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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