HARTFORD, CT -- (Marketwire) -- 10/30/08 -- The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of Texas on behalf of those who purchased the common stock of Pilgrim's Pride Corporation ("Pilgrim's Pride" or the "Company") (NYSE: PPC) between May 5, 2008 and September 24, 2008, inclusive (the "Class Period").

The Complaint charges that Pilgrim's Pride and certain of its officers and directors violated federal securities laws by misrepresenting the Company's financial condition. Specifically, defendants failed to disclose that: (i) the Company's hedges to protect it from adverse changes in costs were not working and in fact were harming the Company's results; (ii) the Company's inability to continue to use illegal workers would adversely affect its margins; (iii) the Company's financial results were continuing to deteriorate rather than improve, such that the Company's capital structure was threatened; (iv) the Company was in a much worse position than its competitors due to its inability to raise prices for customers sufficient to offset cost increases, whereas its competitors were able to raise prices to offset higher costs affecting the industry; and (v) the Company had not made sufficient changes to its business model to succeed in the more difficult industry conditions.

If you are a member of the class, you may, no later than December 29, 2008, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, class action cases in general, and your rights, please contact Izard Nobel LLP toll-free at (800) 797-5499, or by e-mail at firm@izardnobel.com, or visit our website: www.izardnobel.com.