We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Pilgrim's Pride Investor Challenges $1.3B Moy Park Deal

Law360, Wilmington (January 30, 2018, 9:28 PM EST) -- A shareholder in chicken producer Pilgrim’s Pride Corp. has launched a derivative lawsuit in the Delaware Chancery Court, made public Tuesday, that challenges the company’s $1.3 billion acquisition from controlling shareholder JBS SA of U.K. poultry firm Moy Park, alleging the deal was rife with fiduciary duty breaches.

The heavily redacted lawsuit from Pilgrim’s Pride shareholder Matthew Sciabacucchi targets JBS and its founder and CEO José Batista, as well as Pilgrim’s Pride’s board, over the sale, saying it was vetted by a special committee that wasn’t...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.