Chicken industry executives indicted for price fixing

04-Jun-2020 - USA

A federal grand jury has indicted four current and former chicken company executives for price fixing. The U.S. Department of Justice said Wednesday that the executives from Colorado-based Pilgrim's Pride and Georgia-based Claxton Poultry conspired to fix prices and rig bids for broiler chickens from at least 2012 to 2017.

Photo by William Moreland on Unsplash

They are the first executives to be charged in a long-running investigation of price-fixing in the chicken industry. The executives could face 10 years in prison and a $1 million fine. Pilgrim's Pride Corp. shares tumbled 10% Tuesday afternoon.

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Topic world AI for food and beverages