AgFeed Misled Investors On Financial Health: Suit

Law360, New York (October 19, 2011, 11:45 AM EDT) -- An AgFeed Industries Inc. shareholder filed a putative class action in Tennessee on Tuesday accusing the animal nutrition and commercial hog-production company and its executives of making false and misleading statements about the company’s financial health.

Plaintiff Lawrence Blitz alleges that between March 16, 2009, and Aug. 2, 2011, the defendants violated the Securities Exchange Act of 1934 by making the misleading statements about the company’s animal nutrition business, causing its stock to trade at artificially inflated prices, reaching a class period high of $7.71 per...
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