Report: Pilgrim's Pride CEO Among Industry Executives Indicted for Fixing Prices

Four chicken industry senior executives from Pilgrim's Pride (NASDAQ: PPC) and Claxton Poultry Farms have been indicted by a Colorado grand jury for allegedly colluding to fix prices and rig bids on chickens sold to grocery stores and restaurants between 2012 and 2017, The Wall Street Journal reports.

The indictments of Colorado-based Pilgrim's CEO Jayson Penn, a former Pilgrim's vice president, and the president and a vice president of Georgia-based Claxton Poultry Farms are part of an ongoing criminal antitrust probe, according to the report. Penn joined Pilgrim's Pride, the nation's second largest producer, in 2011 after more than 20 years experience in the industry. According to the company, nearly 20% of chickens in the U.S. come from Pilgrim's.

Source Fool.com