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Hedick v. Kraft Heinz Company et al

  1. September 20, 2023

    Kraft-Heinz Shareholder Class Counsel Get $90M In Fees

    An Illinois federal judge awarded $90 million in fees to class counsel for the Kraft Heinz Co. investors who accused the company and a Brazilian private equity firm of hiding the snack food maker's cost-cutting measures after a merger to cover up a $15.4 billion goodwill impairment.

  2. August 09, 2023

    Kraft Heinz Investor Attys Seek $90M For $450M Deal

    An investor class has asked an Illinois federal judge to grant final approval to a $450 million settlement and award their counsel $90 million in fees for their "skill and diligence" in resolving claims that Kraft Heinz Co. hid post-merger cost-cutting measures that led to a $15.4 billion goodwill impairment.

  3. May 11, 2023

    $450M Kraft Heinz Investor Deal Gets Early OK

    An Illinois federal judge gave his early blessing on Thursday to a $450 million settlement of investor claims that the Kraft Heinz Co. hid post-merger cost-cutting measures that led to a $15.4 billion goodwill impairment, a deal believed to rank among the largest for securities class actions.

  4. March 16, 2023

    Kraft Heinz Shareholders Can't Pause Del. Suit, Court Says

    Kraft Heinz Co. shareholders who sued in Delaware's Chancery Court over a $15.4 billion write-down may take 30 days to decide how to consolidate their efforts, but may not stay their case indefinitely while a different group of investors settles a federal securities action in Illinois, a Delaware vice chancellor said Thursday.

  5. October 21, 2021

    Robbins Geller, Glancy Prongay To Lead Kraft Derivative Suit

    An Illinois federal judge has appointed lead plaintiffs and attorneys from Robbins Geller Rudman & Dowd LLP and Glancy Prongay & Murray LLP as lead counsel in an investor suit against food giant Kraft Heinz.

  6. August 12, 2021

    Kraft Heinz Must Face Investors' $15.4B Impairment Suit

    An Illinois federal judge denied bids by the Kraft Heinz Co. and the private equity firm that guided the Kraft-Heinz merger to dismiss a proposed class action claiming that the food giant concealed post-merger cost-cutting practices that led to a $15.4 billion goodwill impairment.

  7. November 13, 2020

    Kraft Heinz Investors Fight Bid To Nix $15.4B Impairment Suit

    Investors have told an Illinois federal judge that it's clear Kraft Heinz withheld information from them, and it shouldn't escape their proposed class action alleging the company hid post-merger, cost-cutting practices that led to a U.S. Securities and Exchange Commission investigation and a $15.4 billion goodwill impairment.

  8. September 29, 2020

    Kraft Heinz Says $15.4B Impairment Suit 'Makes No Sense'

    The Kraft Heinz Co. asked an Illinois federal judge on Monday to dismiss a securities suit filed last year after the company announced a $15.4 billion goodwill impairment, saying the claims rest on a theory of corporate self-destruction that "makes no sense."

  9. April 20, 2020

    Investor Seeks To Combine Kraft Heinz Derivative Suits

    Investors bringing four related derivative actions accusing Kraft Heinz's board of directors of overstating its financial health to cover up damaging accounting practices have asked an Illinois federal court to combine the recently transferred cases and appoint Robbins Geller Rudman & Dowd LLP lead counsel.

  10. April 06, 2020

    Investors Decry 'Identical' New Suit In $16B Kraft Heinz Action

    Two institutional investors at the helm of a $16 billion suit accusing Kraft Heinz of covering up cost-cutting practices told an Illinois federal judge that a newly filed, "virtually identical" complaint should be folded into their existing consolidated proposed class action.

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