October 26, 2022
Tyson Foods will pay $10.5 million to Washington state in a legal settlement over alleged price-fixing, state Attorney General Bob Ferguson says.
The AG asserts Tyson Foods and 18 other chicken producers drove up the price of chicken since at least 2008, causing consumers to overpay by millions of dollars.
The lawsuit asserts a widespread conspiracy to inflate and manipulate prices, rig contract bids, illegally exchange information and coordinate industry supply reductions to maximize profits. Ferguson filed the lawsuit in King County Superior Court in October 2021.
In the settlement, filed in King County Superior Court, Tyson admits no wrongdoing but agrees to cooperate with Ferguson’s ongoing litigation against the 16 other chicken producers, according to the Seattle Times.
Tyson officials did not immediately respond to the Times' request for comment.
Claims against 16 of the remaining companies continue. Alaska and New Mexico have similar antitrust cases against national chicken producers.
About the Author(s)
You May Also Like
Nitrogen price is the ‘problem child'Feb 06, 2023
Best bets for controlling spring weedsFeb 06, 2023
Cotton: Continued market volatility expected for 2023Jan 18, 2023