Pomerantz LLP is investigating claims on behalf of investors of The Kraft Heinz Company ("Kraft Heinz" or the "Company") (NASDAQ: KHC). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Kraft Heinz and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 21, 2019, post-market, Kraft Heinz reported its financial and operating results for the fourth quarter and full year 2018, including earnings of $0.84 per share on revenue of $6.89 billion. These results fell short of market expectations for earnings of $0.94 per share on revenue of $6.93 billion. Kraft Heinz also cut its quarterly dividend to $0.40 per share and announced receipt of a U.S. Securities and Exchange Commission subpoena in October 2018associated with an investigation into the Company's procurement accounting policies.
Following these disclosures, Kraft Heinz's stock price fell $13.23 per share, or 27.42%, per share, or 41.16%, to close at 34.95 on February 22, 2019.