Pilgrim’s Pride agrees to pay $110 million dollars for federal price-fixing charges

Pilgrim's Chicken

Pilgrim’s Pride, one of the largest poultry producers in the United States, announced this week it will pay $110.5 million dollars to settle price-fixing charges.

The settlement was reached with the Department of Justice and now it waits for approval from the U.S. District Court of the District of Colorado.

Earlier this year, several industry executives were indicted on price fixing charges. Jayson Penn, the then president and chief executive of Pilgrim’s Pride and Roger Austin, a former VP of the company, were among those indicted.

“Pilgrim’s is committed to fair and honest competition in compliance with U.S. antitrust laws,” said Fabio Sandri, Pilgrim’s CEO, said in a news release. “We are encouraged that today’s agreement concludes the Antitrust Division’s investigation into Pilgrim’s, providing certainty regarding this matter to our team members, suppliers, customers and shareholders.”