A PYMNTS Company

US: Tyson CEO says SEC price-fixing probe is ‘grasping at straws’

 |  February 21, 2017

In an interview this week CEO of Tyson Foods, Tom Hayes told “Squawk on the Street” that the US Security and Exchange Commission’s price-fixing probe was unfounded.

“So the SEC is investigating, is reviewing, because there’s an underlying case, an antitrust case, that is baseless,” he said. “And really, plainest words, grasping at straws. And for us it’s noise, but it’ll last some time.”

Speaking to CNBC in Boca Raton, Florida, for the annual Consumer Analyst Group of New York Conference, Hayes said there’s still a lot of good news. The company just announced that it will make its flagship poultry products antibiotic free, allowing it to potentially boost profit margins. And investors, he says, are on board with the company’s moves.

“We’re the only company in the last three weeks against our major competition that’s actually growing volume,” Hayes told CNBC. “So they’re excited about our growth story, they’re really coming along with us and that’s been the exciting part of our story today.”

Full Content: CNBC

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.