WASHINGTON (dpa-AFX) - Pilgrim's Pride, one of the largest poultry producers in the U.S., has agreed to pay a fine of $107 million after it pled guilty to price fixing.
The Greeley, Colorado-based broiler chicken producer pleaded guilty for its participation in a conspiracy to fix prices and rig bids for broiler chicken products, the Department of Justice announced.
Pilgrim's accepted that it participated in a conspiracy to suppress and eliminate competition for sales of broiler chicken products in the US that affected at least $361 million in Pilgrim's sales of broiler chicken products from as early as 2012 and continuing at least into 2017.
The District Court accepted Pilgrim's guilty plea and sentenced the company to pay a criminal fine of $107.9 million.
'Today's guilty plea demonstrates our unwavering commitment to prosecuting companies that violate the nation's antitrust laws, especially when it involves something as central to everyday life as the food we eat,' said Richard Powers, Acting Assistant Attorney General of the Department of Justice's Antitrust Division.
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