Pilgrim’s Pride has agreed to pay US$75 million to chicken buyers to settle claims that the second-biggest American poultry producer had fixed prices, according to a US Securities and Exchange Commission filing Monday, January 11.
The company, a unit of Brazilian meat giant JBS, didn’t admit to wrongdoing as part of the broiler antitrust settlement, it stated in a US regulatory filing on Monday. The payment will be reflected in Pilgrim’s fourth-quarter results, reported Bloomberg.
Pilgrim’s in October agreed to pay a US$110.5 million fine in a plea deal with the US Department of Justice on the price-fixing allegations, which ensnared two former chief executives. Poultry buyers including Chick-fil-A and Target have sued top US chicken producers for fixing meat prices for years.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI