The U.S. Justice Department and 17 states have reached a settlement with three major egg producers, including Cal-Maine Foods, over an investigation into alleged manipulation of egg prices.
Cal-Maine Foods will pay $1.5 million and donate 30 million eggs to food banks and non-profits across the country. The company denied all wrongdoing and said it was not assessed any fines or penalties.
The investigation revealed that the companies “illegally coordinated for years to influence a daily price index for eggs, which artificially increased prices for retailers and consumers throughout the country.”
Settlement Terms
The settlement requires the companies to end their coordination to manipulate prices, adopt compliance measures to prevent future violations, and fully cooperate with oversight by the states.
Versova and Hickman’s Egg Ranch will also pay a total of $1.8 million and donate 23 million eggs to food banks and non-profits.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
