LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Todd M. Garber announces that shareholders of Yum! Brands, Inc. (“Yum Brands” or the “Company”) (NYSE:YUM) have until March 25, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Southern District of New York. The lawsuit was filed on behalf of a class (the “Class”) comprising all purchasers of Yum Brands securities between October 9, 2012 and January 7, 2013, inclusive (the “Class Period”).
Yum Brands, 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 forecasted sales results for Yum Brands’ China Division 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 Brands had continued to buy products from Shandong Liuhe Group until as late as August 2012.
If you are a member of the above-described Class, you may move the Court no later than March 25, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. 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 Class member. If you wish to discuss this action or have any questions concerning your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to info@toddgarberlaw.com.
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