Agribusiness  October 7, 2020

DOJ adds former Pilgrim’s Pride CEO, sales exec to chicken price-fixing indictment

DENVER — A grand jury has indicted former Pilgrim’s Pride Inc. (Nasdaq: PPC) CEO William Lovette and sales executive Jimmie Little as part of an ongoing price-fixing investigation by the U.S. Department of Justice.

In a statement, the DOJ said Lovette, Little and four other employees at other chicken suppliers were added to a previous indictment in June against then-Pilgrim’s CEO Jayson Penn and other executives.

The executives are broadly charged with conspiring to fix bids to suppliers from 2012 to 2017. Violations of the Sherman Antitrust Act carry a maximum penalty of 10 years in prison and a fine of $1 million.

SPONSORED CONTENT

Solar Operations and Maintenance for Commercial Properties

One key qualification to consider when selecting a solar partner to install your system is whether they have an Operations and Maintenance (O&M) or service department. Since solar is a long-term asset with an expected lifecycle of 30 plus years, ongoing O&M should be considered up front. A trusted O&M partner will maximize your system’s energy output and therefor the return on your investment.

Lovette was CEO and a board member of Pilgrim’s from 2011 to 2019. He is currently board chairman for Sauer Brands Inc., a spice maker. Little was a sales director at Pilgrim’s from 2000 to 2017, according to his LinkedIn profile.

Penn has since taken a leave of absence to focus on his defense and was ultimately fired from the company in September.

He has pleaded not guilty, and his trial is currently scheduled for Feb. 16 in Denver.

Lawsuits alleging similar price-fixing activity have been made against Pilgrim’s and other major chicken packing companies in recent months, including by Post Holdings Inc. (NYSE: POST) and a chicken-farming operation in Texas that seeks class action status.

 

© 2020 BizWest Media LLC

DENVER — A grand jury has indicted former Pilgrim’s Pride Inc. (Nasdaq: PPC) CEO William Lovette and sales executive Jimmie Little as part of an ongoing price-fixing investigation by the U.S. Department of Justice.

In a statement, the DOJ said Lovette, Little and four other employees at other chicken suppliers were added to a previous indictment in June against then-Pilgrim’s CEO Jayson Penn and other executives.

The executives are broadly charged with conspiring to fix bids to suppliers from 2012 to 2017. Violations of the Sherman Antitrust Act carry a maximum penalty of…

Sign up for BizWest Daily Alerts