|[January 26, 2013]
Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Yum! Brands, Inc.
BENSALEM, Pa. --(Business Wire)--
Law Offices of Howard G. Smith announces that it is investigating
potential claims against Yum! Brands, Inc. ("Yum" of the "Company")
(NYSE:YUM) concerning possible violations of federal securities laws.
The investigation focuses on allegations that certain statements issued
by the Company between October 9, 2012 and January 7, 2013, regarding
the Company's business and financial prospects were false and
misleading. YUM, together with its subsidiaries, operates quick service
restaurants in the United States and internationally under the KFC,
Pizza Hut and Taco Bell brands.
The investigation is related to Chinese media reports in November 2012
stating that certain of the Company's chicken suppliers had been feeding
toxic chemicals to chickens sold to KFC China. On December 20 and21,
2012, news outlets reported that Yum knew well before October 2012 that
certain chicken suppliers in China had injected chickens with excessive
antibiotics and other illegal chemicals but sought to conceal these
On January 7, 2013, in a filing with the Securities and Exchange
Commission the Company lowered its China Division's full-year 2012
guidance for same-store sales, due to publicity surrounding a review of
Yum's poultry supply by the Chinese government. As a result of this
news, on January 8, 2013 Yum shares dropped 5%, from $67.89 per share to
as low as $64.40 per share.
If you purchased Yum securities between October 9, 2012 and January 7,
2013, if you have information or would like to learn more about these
claims, or if you wish to discuss these matters 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 email@example.com,
or visit our website at http://www.howardsmithlaw.com.
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