Pilgrim’s Pride has entered into an agreement to settle all price-fixing claims with a group of poultry buyers. Pilgrim’s has agreed to pay the Direct Purchaser Plaintiff Class $75-million, the agreement remains subject to court approval.
In a statement to Brownfield, Pilgrim’s says it does not admit to any liability for the claims alleged in the Broiler Antitrust Civil Litigation, but believes a settlement was in the best interests of the company and its shareholders. Individual lawsuits outside the DPP Class remain outstanding.
Pilgrim’s Pride is the second-largest US chicken processor by sales and the deal would be the biggest to date in a legal battle alleging collusion among the largest companies in the $65-billion chicken industry that has spanned more than four years.
