ATTENTION KRAFT HEINZ EMPLOYEES: Zamansky LLC Investigates Possible ERISA Violations in certain Employee Benefit Plans

Business Wire

NEW YORK--(BUSINESS WIRE)-- Zamansky LLC has commenced an investigation of The Kraft Heinz Company (Nasdaq:KHC) (“Kraft Heinz” or the “Company”) on behalf of its current and former employees for potential violations of the federal Employee Retirement Income Security Act (“ERISA”) in certain Company sponsored Employee Benefit Plans. ERISA imposes fiduciary duties to prudently manage and invest plan assets. Accordingly, Zamansky LLC is investigating whether the ERISA fiduciaries may have violated duties of prudence by offering Kraft Heinz stock to employees invested in certain Employee Benefit Plans.

As recently reported, KHC shares recently plunged nearly 30% in value after the Company disclosed an SEC investigation into Kraft Heinz’s accounting policies, procedures, and internal controls related to its procurement function. Specifically, for the fourth quarter of 2018, Kraft Heinz recorded a $25 million increase to costs of products sold. Further, Kraft Heinz disclosed that it is currently implementing improvements to its internal controls, as well as taking other remedial measures. On February 22, KHC shares closed down more than 27% to $34.95 per share.

If you are a current or former Kraft Heinz employee participating in a Company sponsored Employee Benefits Plan, you are encouraged to contact Zamansky LLC for further information. According to employee stock and investment fraud attorney, Jake Zamansky, Kraft Heinz employees who purchased and held KHC stock through an Employee Benefits Plan may have had their retirement savings damaged. “Recently reported news concerning Kraft Heinz raises serious issues including whether the Company’s fiduciaries properly executed their duties under ERISA,” Zamansky states. ERISA is designed to protect employees’ retirement savings from imprudent and inappropriate investments.

What Current and Former Kraft Heinz Employees Can Do

If you are an existing or former Kraft Heinz employee who purchased and held KHC stock through an Employee Benefits Plan, please contact our firm for an evaluation of your rights. You can contact Jake Zamansky by telephone at (212) 742-1414 or by email at [email protected].

About Zamansky LLC

Zamansky LLC is a leading stock law firm with a practice in securities fraud, ERISA and employment class actions. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.

To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.