{"id":108119,"date":"2021-01-12T01:07:18","date_gmt":"2021-01-12T01:07:18","guid":{"rendered":"https:\/\/precoinnews.com\/?p=108119"},"modified":"2021-01-12T01:07:18","modified_gmt":"2021-01-12T01:07:18","slug":"pilgrims-pride-tyson-foods-settle-some-chicken-price-fixing-litigation","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/pilgrims-pride-tyson-foods-settle-some-chicken-price-fixing-litigation\/","title":{"rendered":"Pilgrim's Pride, Tyson Foods settle some chicken price-fixing litigation"},"content":{"rendered":"

(Reuters) – Pilgrim\u2019s Pride Corp and Tyson Foods Inc said on Monday they have settled price-fixing litigation by a group of poultry buyers that accused them of violating U.S. antitrust law by conspiring to inflate chicken prices.<\/p>

FILE PHOTO: Chicken is pictured in New York March 11, 2015. REUTERS\/Lucas Jackson <\/figcaption>

Pilgrim\u2019s Pride, owned mainly by Brazil\u2019s JBS SA, will pay $75 million to settle claims by purchasers that bought chickens directly from the company. The size of Tyson\u2019s settlement with the same purchasers was not disclosed.<\/p>\n

Neither company admitted liability, and both said settling was in their best interests.<\/p>\n

Both settlements require approval by a federal judge in Chicago.<\/p>\n

Neither affects claims by \u201cindirect\u201d purchasers, which include restaurant and supermarket operators such as Chick-fil-A, Kroger Co and Target Inc as well as ordinary consumers.<\/p>\n

They also do not affect claims against other defendants, such as Sanderson Farms Inc and Perdue Farms Inc.<\/p>\n

Pilgrim’s settlement is the largest in more than four years of litigation by restaurants, supermarkets and food distributors over alleged price-fixing in the $65 billion chicken industry here.<\/p>\n

A few smaller chicken producers previously reached similar settlements totaling $13 million.<\/p>\n

Similar litigation has been pending in Minneapolis federal court accusing Tyson, another JBS unit and other pork producers of conspiring to inflate pork prices by limiting supply.<\/p>\n

The Pilgrim\u2019s settlement follows that company\u2019s agreement in October to pay a $110.5 million fine to resolve a U.S. Department of Justice criminal price-fixing probe.<\/p>\n

Last year, the Justice Department also filed criminal price-fixing and bid-rigging charges here in Denver against 10 poultry industry executives. All have pleaded not guilty.<\/p>\n

The case is In re Broiler Chicken Antitrust Litigation, U.S. District Court, Northern District of Illinois, No. 16-08637.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Pilgrim\u2019s Pride Corp and Tyson<\/p>\n","protected":false},"author":3,"featured_media":108118,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nPilgrim's Pride, Tyson Foods settle some chicken price-fixing litigation - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/pilgrims-pride-tyson-foods-settle-some-chicken-price-fixing-litigation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pilgrim's Pride, Tyson Foods settle some chicken price-fixing litigation - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – Pilgrim\u2019s Pride Corp and Tyson\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/pilgrims-pride-tyson-foods-settle-some-chicken-price-fixing-litigation\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-12T01:07:18+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/cnewsfotor25-6.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/pilgrims-pride-tyson-foods-settle-some-chicken-price-fixing-litigation\/\",\"url\":\"https:\/\/precoinnews.com\/business\/pilgrims-pride-tyson-foods-settle-some-chicken-price-fixing-litigation\/\",\"name\":\"Pilgrim's Pride, Tyson Foods settle some chicken price-fixing litigation - 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