Pilgrim's Pride Fined $108M For Chicken Price-Fixing
Law360 (February 23, 2021, 8:20 PM EST) -- Pilgrim's Pride Corp. pled guilty in Colorado federal court Tuesday to conspiring to fix the price of certain broiler chicken products in order to suppress sales and lock in lucrative supply deals with the fast-food chain KFC, and was sentenced to pay roughly $107.9 million in criminal fines.
During a hearing Tuesday, Pilgrim's Pride CEO Fabio Sandri changed the not guilty plea and admitted to one count of violating the Sherman Antitrust Act for the company's role in conspiring to fix broiler chicken prices.
Prosecutors said that from 2012 through at least 2017, Greeley, Colorado-based Pilgrim's Pride conspired with other producers to...
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