Tyson Foods announced in its 10-Q issued Monday, August 5, that it has received a grand jury subpoena from the Department of Justice’s (DOJ) Antitrust Division related to complaints about price manipulation.
The action stems from a class-action complaint Maplevale Farms filed on September 2, 2016. Additional lawsuits with similar complaints have been filed since that time while others have opted to proceed on their own.
The lawsuits allege that starting in January 2008, Tyson and certain poultry subsidiaries conspired to “fix raise, maintain and stabilize the price of broiler chickens in violation of U.S. antitrust laws” and to manipulate the Broiler price index, the Georgia Dock. A DOJ grand jury subpoena is seeking more information about the chicken industry.
Full Content: Market Watch
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