Pilgrim’s Pride Agrees to Pay $41 mln to Settle Investors' Lawsuit
Meat industry giant Pilgrim’s Pride has agreed to pay $41.5 million to settle a securities class action alleging the company artificially boosted its stock price by making false and misleading statements about chicken industry competition.
The settlement disclosed late on Friday culminated nearly a decade of litigation in federal court in Colorado against Pilgrim’s Pride, one of the largest U.S. poultry processors.
The 2016 lawsuit accused Colorado-based Pilgrim’s Pride of concealing an industry-wide price-fixing scheme to charge artificially high prices for chicken. The...
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