|[January 25, 2013]
Yum! Brands Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS --(Business Wire)--
Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor, LLP announce that a federal class action lawsuit has been
filed against Yum! Brands, Inc. ("Yum" or "Company") (NYSE: YUM). The
firms are investigating additional legal claims against the officers and
Board of Directors of Yum during the period of October 9, 2012 through
January 7, 2013 (the "Class Period").
If you are an affected investor and you want to learn more about the
lawsuit or join the action, contact Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Zachary Groover at Powers Taylor, LLP, toll free (877) 728-9607, via
e-mail at firstname.lastname@example.org.
There is no cost or fee to you.
In a recently filed federal class action complaint, Yum and certain of
its officers and directors were charged with violating certain
provisions of the Securities Exchange Act of 1934. Specifically, the
complaint alleges that defendants' misrepresented and/or failed to
disclose that: (a) slowing economic trends in China were stronger than
conveyed and could not support the forecasted sales results for the
Company's China Division nor the Company-wide increased EPS growth;
(b) Defendants knew but concealed that the Company's own food safety
inspections had already found that Chinese chicken supplier Shandong
Liuhe had sold the Company chickens with increased levels of antibiotics
and other illegal drugs and/or chemicals; and (c) the Company continued
to purchase products from Shandong Liuhe until as late as August 2012.
According to the complaint, when these facts were finally disclosed,
Yum's shares dropped substantially.
"Recent revelations about alleged improper business practices and
procedures regarding key aspects of Yum's business and other misleading
financial statements have prompted the firms to investigate possible
breaches of fiduciary duties and other violations of state law by Yum's
officers and directors. Based on our investigation, we are prepared to
pursue litigation to preserve the company and the value of Yum stock for
all shareholders," said shareholder rights attorney Willie Briscoe.
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Taylor, LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
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