Just a cost of doing business.
From DTN Progressive Farmer, January 11:
OMAHA (DTN) -- Pilgrim's Pride Corp. has reached a $75 million settlement with a number of plaintiffs in an ongoing antitrust class-action lawsuit filed in 2016.
The company made the announcement in a filing to the U.S. Securities Exchange Commission on Monday.
"Pursuant to the agreement, Pilgrim's has agreed to pay the DPP Class $75 million, which will be reflected in Pilgrim's fourth quarter 2020 financial statements," the company reported to the SEC.
"The agreement is subject to court approval and does not settle claims made by plaintiffs outside of the DPP class in the Broiler Antitrust Civil Litigation. While Pilgrim's does not admit any liability for the claims alleged in the Broiler Antitrust Civil Litigation, it believes a settlement was in the best interests of the company and its shareholders."
The lawsuit, filed by Maplevale Farms Inc. in 2016, alleged a number of large chicken-producing companies, including Pilgrim's Pride, Tyson Foods Inc., Koch Foods Inc. and others, beginning at least as early as January 2008, "conspired and combined to fix, raise, maintain, and stabilize the price of broilers."
The proposed settlement addresses the Maplevale Farms case. However, Pilgrim's Pride and other companies have been sued by several other companies, including Boston Market Corp....
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