This is a scandal and effects our Carol Rest Grp (TAST) Popey's division!
Poultry stocks on watch after Chick-fil-A lawsuit
Dec. 07, 2020 7:54 AM ETTyson Foods, Inc. (TSN)
Poultry stocks on watch after Chick-fil-A lawsuit
Dec. 07, 2020 7:54 AM ETTyson Foods, Inc. (TSN)
- Chick-fil-A fires off a lawsuit against chicken suppliers Tyson Farms(NYSE:TSN), Perdue Farms, Pilgrim's Pride(NASDAQ:PPC), Sanderson Farms(NASDAQ:SAFM)and others.
- The suit alleges the group coordinated to artificially raise prices on billions of dollars of its purchases by sharing bidding and pricing details. As a result, Chick-fil-A maintains it overpaid for chicken supplies.
- Separately, the DOJ has indicted ten industry executives in separate cases this year and several suppliers have faced lawsuits alleging conspiracy to inflate broiler chicken prices from grocers, retailers and consumers.