Pilgrimís Pride to Pay $75 Million to Chicken Buyers in Antitrust Case

 

By Michael Hirtzer, Bloomberg

January 11, 2021

 

Pilgrimís Pride Corp. has agreed to pay $75 million to chicken buyers to settle claims that the second-biggest American poultry producer had fixed prices, according to a U.S. Securities and Exchange Commission filing Monday.

 

The company, a unit of Brazilian meat giant JBS SA, didnít admit to wrongdoing as part of the broiler antitrust settlement, it said in a U.S. regulatory filing on Monday. The payment will be reflected in Pilgrimís fourth-quarter results.

 

Pilgrimís in October agreed to pay a $110.5 million fine in a plea deal with the U.S. Department of Justice on the price-fixing allegations, which ensnared two former chief executives. Poultry buyers including Chick-fil-A and Target Corp...

 

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https://www.bloomberg.com/news/articles/2021-01-11/pilgrim-s-to-pay-75-million-to-chicken-buyers-in-antitrust-case