Read the original article by Lisa M. Keefe at meatingplace.com here.
The Humane Society of the United States has taken its complaint with the way Pilgrim’s Pride labels its chicken to the Securities & Exchange Commission.
Since December, HSUS has been trying to stop Pilgrim’s Pride from labeling its chicken as “100% natural” and “humanely” raised. The organization earlier filed a complaint with the Federal Trade Commission and also reached out to the state attorneys general.
In its filing with the SEC, HSUS claims that the wording on the labels is harming investors.
“Pilgrim’s Pride is deceiving stakeholders concerned about the suffering of animals with false assurances of the animals’ living conditions and treatment,” Bloomberg quoted the complaint as saying. “Poor animal welfare practices are a serious investment risk…that [can] cause negative effects on demand and can cause stock prices to drop.” The allegedly misleading statements violate the Securities Exchange Act of 1934 and Commission Rule 10b-5 because they constitute untrue statements of material fact, HSUS claimed.
In response, Cameron Bruett, a spokesman for Pilgrim’s Pride, repeated the statement that the company has issued in the past: “Pilgrim’s is committed to the well-being of the poultry under our care. We welcome the opportunity to defend our approach to animal welfare against these false allegations.”