Welcome
Securities Law News

Pinkberry Owner Plunges Amid ‘Information Void’ on Whistleblower

Feb. 14, 2020, 3:00 PM

MTY Food Group Inc., the owner of frozen-yogurt chain Pinkberry, plunged by the most in 14 years, after delaying the release of its quarterly results on a whistleblower complaint about the company.

A Pinkberry frozen yogurt store.

Shares of the St. Laurent, Quebec-based franchiser tumbled as much as 13%, its biggest intraday decline since October 2005. MTY, which was scheduled to report its fourth-quarter earnings on Feb. 18, provided no other information on the purported employee complaint, but said the allegations “are baseless and frivolous,” according to a statement Friday. The earnings results are still expected within the regulatory deadline.

“There is...

To read the full article log in. To learn more about a subscription click here.