Pilgrim’s Pride to pay $75M to distributors, grocers to settle antitrust claims
GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) will pay $75 million to multiple companies to settle anticompetitive practices although the larger federal investigation over alleged industry-wide anticompetitive behavior still looms.
The Greeley chicken packer will pay the $75 million to the class included as part of a Department of Justice investigation out of the Northern District of Illinois, according to filings with the U.S. Securities and Exchange Commission. The class is mostly made up of food distributors and grocers and includes Walmart Inc. (NYSE: WMT), Kroger Co. (NYSE: KR) and Chick-fil-A Inc.
The…
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