Law360, Los Angeles (December 8, 2016, 9:38 PM EST) -- Packaged goods holding company Post Holdings Inc. will pay $75 million to settle class claims against Michael Foods Inc. from direct purchasers of shell eggs in multidistrict litigation alleging a price-fixing conspiracy, the company announced on Thursday.
The case alleges Michael Foods, which was acquired by Post two years ago, and other companies conspired to reduce egg output in 2000 during a time of increased demand, which led to record high egg costs by 2007. The scheme allegedly involved relying on the constraints of a certification program to limit the supply of eggs.
Attorney for the direct purchasers Steve Neuwirth of...
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