Shareholders Found To Have Failed To Plead Particularity, Reliance

(January 30, 2018, 2:30 PM EST) -- NEW YORK — Shareholders have failed to plead the requisite particularity in arguing that a poultry processing company and certain of its executive officers engaged in two antitrust conspiracies designed to drive up the price of broiler chickens and are unable to show that they relied on the defendants’ alleged misstatements covering up the fraud because the defendants’ involvement in the alleged scheme was already known when the shareholders purchased their shares, a federal judge in New York ruled Jan. 19 in granting the defendants’ motion to dismiss (Gordon Gamm, et al. v. Sanderson Farms Inc., et al., No. 16-8420, S.D. N.Y., 2018 U.S. Dist. LEXIS 9944)....