BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of a class composed of all purchasers of the securities of Yum! Brands, Inc. (“Yum” of the “Company”) (NYSE:YUM) between October 9, 2012 and January 7, 2013, inclusive (the “Class Period”).
YUM, together with its subsidiaries, operates quick service restaurants in the United States and internationally under the KFC, Pizza Hut and Taco Bell brands. The Complaint alleges that throughout the Class Period the defendants misrepresented and/or failed to disclose that: (1) slowing economic trends in China were stronger than reported and could not support Yum’s China Division’s forecasted sales results or the Company’s increased earnings-per-share growth; (2) defendants knew but concealed that the Company’s own food safety inspections had already discovered high levels of antibiotics and other illegal drugs and/or chemicals in chickens purchased from a Chinese supplier -- Shandong Liuhe Group; and (3) Yum had continued to buy products from Shandong Liuhe Group until as late as August 2012.
No class has yet been certified in this action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Yum securities during the Class Period, you have certain rights, and have until March 25, 2013 to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. 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 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.