logo
Plus   Neg
Share
Email

Pilgrim's Pride And Claxton Poultry Executives Indicted For Price Fixing

Four current and former senior executives from two major broiler chicken producers, including Pilgrim's Pride CEO Jayson Penn, have been indicted for price fixing.

The other executives allegedly involved in the price fixing include former Pilgrim's Pride vice president Roger Austin, Claxton Poultry Farms President Mikell Fries and Scott Brady, a former Pilgrim's Pride executive and current Vice President of Claxton.

Meanwhile, Pilgrim's Pride confirmed that the Justice Department informed the company about the indictment against a current executive and two former employees. The company will cooperate with the department in their investigation.

According to the indictment, the Pilgrim's Pride and Claxton executives conspired to fix prices and rig bids for broiler chickens across the United States, from 2012 until at least early 2017.

The Justice Department said that the criminal investigation into price fixing is still ongoing, and the four men are the first to be charged.

The offense carries a maximum penalty of 10 years in prison and a $1 million fine. The maximum fine may be increased to twice the gain derived from the crime or twice the loss suffered by victims if either amount is greater than $1 million, the Department said.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT