NEW YORK, N.Y. (Reuters) — U.S. meat and poultry processor Tyson Foods Inc. has been sued for allegedly defrauding shareholders with misleading disclosures about its ability to combat the spread of the coronavirus in its facilities.
The lawsuit, which seeks class-action status, seeks unspecified damages for Tyson shareholders from March 13 to Dec. 15, 2020.
It followed a Dec. 15 letter from New York City comptroller Scott Stringer to the U.S. Securities and Exchange Commission that asked the regulator to investigate Tyson’s health and safety disclosures to investors, which include the US$229 billion New York City Retirement Systems.
Tyson spokesperson Gary Mickelson defended the company’s handling of the pandemic, saying it has spent more than $500 million on employee safety.
