Tyson Foods, the nation’s largest poultry processor — and the company behind a dizzying array of packaged foods — revealed this week that federal regulators are investigating allegations of price-fixing.
The company — behind brands like Jimmy Dean, Ball Park, Hillshire Farms, and its namesake brand of chicken products — disclosed in a filing [PDF] Monday that it had received a subpoena from the Securities and Exchange Commission.
This subpoena, received on Jan. 20, is likely related to allegations made in a Sept. 2016 lawsuit brought against Tyson and other poultry processors. The plaintiffs in that complaint contend that, starting in 2008, the defendants “conspired and combined to fix, raise, maintain, and stabilize the price” of chicken in violation of federal and state laws.
According to the complaint, the companies “manipulated and artificially inflated the widely used Broiler price index,” and then concealed the actions.
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2 comments:
Oh lord....every few years one company or the other has this lawsuit leveled against them....chicken is still the cheapest meat you can buy!!! It will be debated then tossed out!!
I just wish someone was fixin my chicken....tired of cooking!
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