What's New ? - 2021

What's New ? - 2021

Pilgrim’s Pride to pay $75M to resolve antitrust lawsuit

15 January, 2021

America’s top two chicken producers have reached agreements with buyers to settle complaints over price-fixing allegations.
Pilgrim’s Pride Corp., owned by Brazil’s JBS SA, said it will pay $75 million to settle the class action suit. Tyson Foods Inc. said in a separate statement that it had reached an “agreement in principle” without disclosing terms. Neither company admitted wrongdoing.
Both settlements require approval by a federal judge in Chicago.
The investigation, which covers alleges activities that took place between 2012 and 2019, was first brought on by a lawsuit filed by grocers and consumers alleging price-fixing between suppliers of broiler chickens. The Justice Department first indicted Jayson Penn and three other chicken supplier executives in June, alleging a conspiracy to fix prices between Pilgrim’s Pride and Claxton Poultry. After his indictment, Penn went on a leave of absence from Pilgrim’s before being formally replaced by Sandri in September; he has plead not guilty to the charges.
In October, a second wave of indictments implicated six more figures, including former Tyson Foods CEO Timothy Mulrenin and Rickie Blake of George’s Inc., a family-owned chicken supplier.