Pilgrim’s Pride to settle price-fixing allegations for $75 million
Pilgrim’s Pride Corporation has reached a $75 million deal with poultry buyers to settle allegations of price-fixing, The Wall Street Journal reports. Last year, the Department of Justice accused executives at the large poultry processor of working with its competitors to inflate prices. A choice text message excerpt from the court documents, in which a company manager refers to the company’s customers: “WE SHOULD NOT HELP THEM ONE MICRON.” In October, Pilgrim’s Pride agreed to pay a $110 million penalty as part of that case, and the company continues to face lawsuits from other buyers including Chick-Fil-A, Walmart, and Kroger. This little conspiracy is starting to get expensive!
