Grant & Eisenhofer Announces That Court Has Vacated Notice Of Pendency Of Class Action Against Kraft Heinz

NEW YORK, May 19, 2020 /PRNewswire/ -- Grant & Eisenhofer, P.A.
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NEW YORK, May 19, 2020 /PRNewswire/ -- Grant & Eisenhofer, P.A. announces that the Court has issued a order announcing that the March 28, 2020 notice informing investors of their right to seek appointment as lead plaintiff in a securities class action filed by Grant & Eisenhofer on behalf of City of Hollywood Police Officers' Retirement System against Kraft Heinz (KHC) - Get Report, certain of its current and former senior executives, and 3G Capital, Inc. and its related affiliates, will be vacated.  That action is captioned City of Hollywood Police Officers' Retirement System v. The Kraft Heinz Company, et al., 1:20-cv-01970 (N.D. Ill.) (the " Hollywood Police Action"). 

On March 25, 2020, Grant & Eisenhofer, P.A. filed the Hollywood Police Action in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or acquired publicly traded KHC securities, including KHC common stock, during the period between July 2, 2015 and November 4, 2015, including those who acquired KHC securities as a result of the acquisition of Kraft Foods Group, Inc. ("Kraft")  by the H.J. Heinz Company ("Heinz").  The Hollywood Police Action is related to the consolidated action Union Asset Management Holding AG and Sjunde AP-Fonden. v. The Kraft Heinz Company, et al., 1:19-cv-01339-RMD (N.D. Ill.) (the " Union Asset Action").

On March 28, 2020, Grant & Eisenhofer published a notice informing investors who purchased Kraft Heinz securities during the Class Period of their right to seek appointment as lead plaintiff in the Hollywood Police Action pursuant to the Private Securities Litigation Reform Act of 1995 (the "PSLRA").  See 15 U.S.C. Section 78u-4(a)(2)(A)(i)-(iv). 

On April 3, 2020, the lead plaintiffs in the Union Asset Action filed a motion to consolidate the Hollywood Police Action with the Union Asset Action and to vacate the Notice published on March 28, 2020.  On May 11, 2020, the Hon. Judge Robert M. Dow, Jr., of the United States District Court for the Northern District of Illinois, ordered that the Hollywood Police Action should be transferred to his docket where the Union Asset Action is pending, and that once that was formally accomplished, he would issue an order stating the two actions are consolidated and that the March 28, 2020 notice in the Hollywood Police Action is vacated.  Investors who purchased Kraft Heinz securities during the Class Period are hereby notified that there is no longer a class action pending for which they may seek lead plaintiff appointment. 

If you have any questions about this notice, this action, or your rights, you may contact Caitlin M. Moyna at Grant & Eisenhofer, cmoyna@gelaw.com, 646-722-8513.

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SOURCE Grant & Eisenhofer, P.A.