Related Searches: Tea Vitamin Nutrients Ingredients paper cup packing

Food & Health Ingredients
Health & Nutrition
Processing & Packaging
Starch & Starch Derivatives
You are here: Home >news >Pilgrim’s Pride Settles Price-Fixing Case

Pilgrim’s Pride Settles Price-Fixing Case

2020-10-14 foodprocessing

Tag: Pilgrim’s Pride poultry processors Jayson Penn

Share       

Pilgrim’s Pride has agreed to pay a fine of $110.5 million to settle federal price-fixing charges that had resulted in the indictment of two former CEOs.

The settlement, announced by the company Oct. 14, was in connection with a federal antitrust probe into pricing practices across the poultry industry. The U.S. Justice Department alleged that executives from Pilgrim’s Pride, majority-owned by JBS SA, improperly communicated with purported competitors to set prices and other terms for trade customers. The investigation ensnared current and former executives of Koch Foods, Perdue Farms, Tyson Foods, Claxton Poultry Farms and other companies.

The Wall Street Journal reports that Pilgrim’s Pride has been cooperating with the federal probe and has received a fine smaller than it would otherwise have paid.

The case resulted in the indictment of two former Pilgrim’s Pride CEOs: Jayson Penn, who was fired in September, and Bill Lovette, who retired last March.

The federal probe seeks to cover price-fixing from 2012 to early 2019 that allegedly victimized some of the poultry processors’ biggest retail and foodservice customers, including Walmart, Kroger, Chick-Fil-A and KFC. Walmart and others have filed civil lawsuits against Pilgrim’s Pride and other poultry processors alleging price fixing.

E-newsletter

Subscribe to our e-newsletter for the latest food ingredients news and trends.

Tags

SJGLE B2B Website : 中文版 | ChineseCustomer Service: 86-400 610 1188-3 ( Mon-Fri 9: 00-18: 00 BJT)

About Us|Contact Us|Privacy Policy|Intellectual Property Statement

Copyright 2006-2023 Shanghai Sinoexpo Informa Markets International Exhibition Co Ltd (All Rights Reserved). ICP 05034851-121  沪公网安备31010402001403号

Inquiry Basket

Inquiry Basket

Buyer service

Buyer service

Supplier service

Supplier service

Top

Top