Tyson Agrees to Blow the Whistle on Other Poultry Processors to Gain Leniency
As the Antitrust Division of the US Justice Department (DOJ) moves to crack down on poultry company executives for a broiler chicken price fixing conspiracy, Tyson Foods (NYSE: TSN) says it has gained leniency by cooperating with the investigation. The company decided to aid the government after receiving a subpoena in late April naming some of its personnel as complicit in the alleged anti-competitive price fixing scheme.
The DOJ recently indicted several prominent poultry industry figures, including the CEO of Pilgrim's Pride (NASDAQ: PPC), Jayson Penn, and the president of Claxton Poultry, Mikell Fries, among others. The price fixing allegedly took place during the COVID-19 pandemic's worst period, when the American meat supply appeared threatened and President Trump ordered meatpackers to stay operational.
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Source Fool.com
