|By Marketwired .||
|January 29, 2013 02:16 PM EST||
ATLANTA, GA -- (Marketwire) -- 01/29/13 -- Holzer Holzer & Fistel, LLC has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of purchasers of Yum! Brands, Inc. ("Yum!" or the "Company") (NYSE: YUM) common stock who purchased shares between October 9, 2012 and January 7, 2013, inclusive (the "Class Period"). The lawsuit alleges, among other things, that YUM! knew but failed to adequately disclose that: (a) slowing economic trends in China were stronger than reported and could not support the forecasted sales results for the Company's China Division nor the Company-wide increased EPS growth; and (b) the Company's own food safety inspections had already found that Chinese chicken supplier Shandong Liuhe had sold the Company chickens with high levels of antibiotics and other illegal drugs and/or chemicals. On November 23, 2012, reports in the Chinese media revealed issues with toxic chemicals being fed to chickens sold to KFC China. On January 7, 2013, Yum! announced it was lowering its sales forecasts for its China Division in part due to the "adverse publicity associated with a government review of China poultry supply." The price of Yum! stock declined significantly following these disclosures.
If you purchased YUM common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than March 25, 2013. Any member of the purported 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. If you are a Yum! investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel[email protected], or [email protected], or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm.