Largest US Egg Producers Convicted Of Price Fixing

Bloomberg Law reports:

General Mills Inc., a Kraft Heinz Co. unit, Kellogg Co., and Nestle SA for years likely overpaid for eggs because the nation’s largest producers and two trade groups conspired to restrict the supply, an Illinois federal jury decided on Tuesday.

A US District Court for the Northern District of Illinois jury of nine men and three women said the two largest US egg producers, Cal-Maine Foods Inc. and Rose Acre Farms Inc., along with two egg-industry trade groups, will have to pay damages to the food companies.

The case outcome in favor of the food companies could embolden other plaintiffs who are seeking to go after food producers for anticompetitive behavior.

Read the full article.

BREAKING: America’s largest egg producers and industry groups illegally rigged the market to drive up the price of eggs, a jury has found.

Their price-fixing scheme included exporting millions of eggs overseas to drive up U.S. prices around Thanksgiving and Easter.

— More Perfect Union (@MorePerfectUS) November 21, 2023