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Tag Archives price-fixing

An air-fryer grilled cheese and ham sandwich. (Dempsters.ca)
Crops, Markets

Canada Bread fined $50 million over price-fixing

'Leniency' settlement follows breadmaker's guilty plea

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A storied Canadian producer of bread and bakery products has a month to pay a $50 million fine for price-fixing in an ongoing federal probe which still has eyes on several major retailers. Ontario’s Superior Court on Wednesday sentenced Toronto-based Canada Bread Co. after the company pled guilty to four counts of fixing bread prices […] Read more
Brazilian meatpacker JBS SA’s logo on a tower in Jundiai, northwest of Sao Paulo in southeastern Brazil, on June 1, 2017. (File photo: Reuters/Paulo Whitaker)
Livestock, Markets

JBS to pay US$25 million in latest beef price-fixing settlement

Settlement calls for co-operation in cases against other defendants

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Reuters — JBS SA has agreed to pay US$25 million to commercial beef purchasers that accused the meat-packing company of conspiring with industry rivals to restrict market supply in order to keep prices artificially high. The proposed settlement in Minnesota federal court was disclosed on Friday from plaintiffs’ lawyers representing a class of businesses that […] Read more
File photo of a truck arriving at a Smithfield Foods pork plant at Smithfield, Va. on Oct. 17, 2019. (Photo: Reuters/Tom Polansek)
Livestock, Markets

Smithfield Foods to pay US$75 million in pork price-fixing settlement

Follows similar settlement by JBS

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Reuters — Smithfield Foods has agreed to pay US$75 million to settle a lawsuit by consumers who accused the meat producer and several competitors of conspiring to inflate prices in the $20 billion-a-year U.S. pork market by limiting supply. A preliminary settlement in the antitrust case was filed on Tuesday night with the federal court […] Read more
(Lovelyshot/iStock/Getty Images)
Livestock

Quebec group seeks to sue beef packers over pricing

Group's class-action application alleges price-fixing dating back to 2015

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A Quebec consumer protection group intends to launch a class action lawsuit against four major beef processors in Canada and the U.S., alleging a “meat pricing conspiracy.” “At a time of high inflation, it is unacceptable to make the price of beef even more expensive than it already is,” Sylvie De Bellefeuille, a lawyer for […] Read more
(Sansubba/iStock/Getty Images)
Livestock, Markets

U.S. indicts six more chicken-industry execs over alleged price fixing

Case alleges executives conspired to inflate prices for broilers

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Chicago | Reuters — The U.S. government has indicted six more chicken-industry executives over alleged price-fixing, broadening antitrust prosecutions in its probe of the US$65 billion poultry sector. In June, the Justice Department indicted Pilgrim’s Pride CEO Jayson Penn and three others in its first charges in the criminal probe involving broiler birds, which account […] Read more
(Pabradyphoto/iStock/Getty Images)
Livestock, Markets

U.S. indicts Pilgrim’s Pride CEO for alleged chicken price-fixing

Allegations cover period from 2012 to 2017

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Washington/Chicago | Reuters — The CEO of Pilgrim’s Pride Corp., a major U.S. poultry company, was indicted along with three other current and former industry executives on charges of seeking to fix the price of chickens, the U.S. Department of Justice said Wednesday. A grand jury in Denver indicted Jayson Penn, the president and CEO […] Read more
Pork baby back ribs. (Grandriver/Getty Images)
Livestock

Packers win dismissal of U.S. pork price-fixing suits

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Reuters — A federal judge on Thursday dismissed antitrust lawsuits accusing several large U.S. pork companies of conspiring to limit the supply of pork to inflate prices and their own profits at the expense of consumers and other purchasers. Chief Judge John Tunheim of the federal court in Minneapolis said the plaintiffs failed to show […] Read more

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