Last week, a judge signed off on a US$75 million settlement from Michael Foods, a subsidiary of packaged food producing giant Post to settle claims against it in the egg antitrust litigation in federal court.
The settlement, reached nearly a year ago, was given final approval on November 17 by US District Judge Gene E.K. Pratter of the Eastern District of Pennsylvania, the presiding judge in the litigation. The class action, brought by direct purchasers and suppliers of eggs, continues against other defendants.
“The proposed settlement agreement is fair, reasonable, and adequate. Accordingly, the court grants plaintiffs’ motion for final approval of the class action settlement with defendant Michael Foods,” Pratter wrote in her opinion.
The class action, which Pratter certified in September 2015, claims the nation’s major egg producers were involved in a conspiracy to control and limit the supply of eggs in an effort to increase prices, allegedly through short-term production restrictions, such as slaughtering hens early, a pretextual animal welfare program and a “calculated” series of exports of eggs at below-market prices.
Full Content: Law
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI