Menu Foods stock plunges on pet food recall
Last Updated: Monday, March 19, 2007 | 9:05 PM ET
CBC News
Menu Foods Inc., the company that's recalling millions of its pet food products following a health scare, saw its stock tumble by almost a quarter on Monday.
Units of the Menu Foods Income Fund fell $1.35 to close at $4.15 in TSX trading. Earlier in the day, the units traded as low as $3.02.
Menu Foods Income Fund three-month trading
Toronto-based Menu Foods initiated a precautionary recall Friday of "cuts and gravy" style dog and cat food manufactured at two of its U.S. plants between Dec. 3, 2006, and March 6, 2007.
Menu said it announced the recall after it received a number of complaints about dogs and cats in the U.S. that had developed kidney failure after eating the products. One dog and nine cats died.
The company said the recall would cost it up to $40 million.
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