Hormel Foods Corporation (NYSE: HRL)

This investigation is for anyone who acquired securities in Hormel Foods Corporation (NYSE: HRL) prior to October 12, 2023.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by failing to disclose to investors that the Company had agreed to make huge monetary concessions to the Company’s unionized employees as part of the Company’s long term strategic plans.

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, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Hormel Foods Corporation (NYSE: HRL) prior to October 12, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.