On July 28, US District Court Judge Timothy Brooks dismissed a shareholders lawsuit against meat producer Tyson Foods Inc. The lawsuit alleged that the company and other chicken companies were involved in a widespread price-fixing conspiracy.
Originally, shareholders filed four separate lawsuits from October to November of 2016, but on January 25 Judge Brooks consolidated the lawsuits into one.
Judge Brooks released a 62 page ruling on his dismissal, saying, “The Complaint fails to plausibly allege that Tyson entered into an agreement with its industry competitors to suppress the domestic supply of chickens in order to increase prices. This means that the falsity element of Lead Plaintiffs’ … claim based on the alleged underlying conspiracy to suppress supply lacks plausibility.”
Full Content: Arkansas Business
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
