San Diego, CA -- (SBWIRE) -- 01/09/2024 -- An investigation was announced concerning potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Hormel Foods Corporation (NYSE: HRL), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Hormel Foods Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Austin, MN based Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. Hormel Foods Corporation reported that its annual Total Revenue declined from over $12.45 billion for the 12 months period that ended on October 31, 2022 to over $12.11 billion for the 12 months period that ended on October 31, 2023 and that its Net Income for those respective time periods declined from $999.98 million to $793.57 million.

On October 12, 2023, MarketWatch published an article that Hormel Foods Corporation "was on track for its lowest close since March 23, 2018" after its workers ratified contracts with wage increases.

Shares of Hormel Foods Corporation (NYSE: HRL) declined from $47.68 per share in December 2022 to as low as $30.12 per share on November 29, 2023.

Those who purchased shares of Hormel Foods Corporation (NYSE: HRL) have certain options and should contact the Shareholders Foundation.

About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com