Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
NEW YORK, Oct. 05, 2016 -- Pomerantz LLP announces that a derivative lawsuit has been filed on behalf of nominal defendant The Wendy’s Company (“Wendy’s” or the “Company”) (NYSE:WEN) against the directors of the Company for Wendy’s failure to join the Fair Food Program (the “FFP”) that its competitors have long since joined. According to the lawsuit, Wendy’s board of directors (the “Board”) has turned a blind eye to human rights abuses by suppliers of tomatoes used in its products. These human rights abuses to farm workers include human trafficking, physical abuse, involuntary confinement, starvation wages, debt bondage, and sexual abuse. By refusing to join the FFP, Wendy’s Board has flouted industry standards and actively undermined the FFP—which has been lauded by the White House, the United Nations, and other non-profits as a successful and innovative model to uncover and prevent modern-day slavery.
Gustavo F. Bruckner, a partner at Pomerantz and head of the firm’s corporate governance department, stated, “It is disgraceful and outrageous that in this day and age, Wendy’s would be complicit with these kinds of reprehensible business practices. It simply shocks the conscience.”
The action was filed in United States District Court, Southern District of New York, and docketed under 16-cv-07789. To discuss this action or to obtain a copy of the complaint, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980.
Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT: Robert S. Willoughby Pomerantz LLP [email protected]
