Law Offices of Howard G. Smith announces an investigation on behalf of Hormel Foods Corporation (“Hormel” or the “Company”) (NYSE: HRL) investors concerning the Company’s possible violations of federal securities laws.
On October 12, 2023, the United Food and Commercial Workers International Union announced workers for Hormel in Minnesota, Georgia, Wisconsin and Iowa voted to ratify a new labor contract that includes "the largest wage increases in the company's history." On that day, Hormel held an investor event and issued its financial targets which “outline[d] updated strategic priorities” and updated its long-term forecast, projecting sales growth in the low-to-mid single digits, and long-term earnings per share growth in the high single digits.
On this news, Hormel’s stock price fell $3.33, or 9.8%, to close at $32.40 per share on October 12, 2023, thereby injuring investors.
If you purchased Hormel securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20231026388837/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
