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
Nvidia and Microsoft Sued for Allegedly Undercutting AI Technology Patent Prices
Sep 5, 2024 by
CPI
White & Case Strengthens Antitrust and M&A Practices with New Partner Additions
Sep 5, 2024 by
CPI
Federal Judge Dismisses Antitrust Lawyers’ Fee Demand Over JetBlue-Spirit Deal
Sep 5, 2024 by
CPI
Boston Landlords Named as US Sues RealPage Over Alleged Rent-Inflating Practices
Sep 5, 2024 by
CPI
Judge to Weigh Landmark NCAA Settlement Proposal in Antitrust Lawsuit
Sep 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
CPI
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
CPI
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
CPI
The Cost of Making COFECE Disappear
Sep 3, 2024 by
CPI