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Major broiler chicken producer Pilgrim s Pride Corp. has pleaded guilty and has been sentenced to pay approximately $107 million in criminal fines for its participation in a conspiracy to fix prices and rig bids for broiler chicken products.
Pilgrim's Pride Corporation (Pilgrim's), a major broiler chicken producer based in Greeley, Colorado, has pleaded guilty and has been sentenced to pay approxi
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February 24, 2021
Pilgrimâs Pride pled guilty in a District of Colorado criminal lawsuit to price-fixing allegations. The broiler chicken producer was issued a $107.9 million criminal fine. The United States Department of Justice announced the criminal fine on Tuesday.Â
According to the press release, Pilgrimâs Pride is the first corporation to plead guilty in the criminal antitrust investigation. The plea agreement reportedly says that the price-fixing conspiracy began as early as 2012 and lasted until at least 2017. The DOJ said that the conspiracy, which included eliminating competition, affected over $361 million in sales from Pilgrimâs Pride. In accordance with the Sherman Act, a company can be charged a maximum fine of $100 million, but the amount can be increased to up to twice the companyâs cane from the conspiracy or twice the victimâs loss if either is greater.Â
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