Tyson Foods Reaches More Settlements In Chicken Pricing Litigation
Tyson Foods Inc has agreed to settle the price-fixing dispute with two other groups of plaintiffs accusing it of illegally plotting to inflate prices in the $ 65 billion chicken industry.
The settlements with so-called “end-user” consumers and with more than 30 commercial buyers were disclosed in documents filed Tuesday in federal court in Chicago.
Eight days ago, Tyson agreed to settle related antitrust claims from buyers who purchased chickens directly from the Springdale, Arkansas-based company.
Tyson has also faced price fixing claims by large restaurant and supermarket operators such as Chick-fil-A, Kroger Co and Walmart Inc.
Terms of the settlements were not disclosed and court approvals are required. Tyson did not immediately comment.
|TSN||TYSON FOODS, INC.||79.53||-0.41||-0.51%|
|KR||THE KROGER CO.||46.74||-0.20||-0.43%|
|CPC||PRIDE OF THE PILGRIMS||27.18||-0.03||-0.11%|
|SAFM||SANDERSON FARMS, INC.||192.53||+0.03||+ 0.02%|
Pilgrim’s Pride Corp, owned primarily by Brazilian JBS SA, agreed on Jan. 11 to pay $ 75 million to settle claims from direct buyers of chickens.
Restaurants, supermarkets, food distributors and consumers have accused chicken farmers of conspiring since 2008 to inflate chicken prices, through tactics such as restricting production and sharing data. non-public on supply and demand.
Perdue Farms Inc and Sanderson Farms Inc are among the other defendants in the litigation, which began in 2016. A few small producers have settled related claims.
Last year, the US Department of Justice filed criminal charges of price fixing and bid-rigging in Denver against 10 poultry industry executives. They all pleaded not guilty.