Four more former Pilgrim’s Pride execs indicted

GREELEY — A federal grand jury in Denver indicted four additional former Pilgrim’s Prides executives for their alleged role in nationwide price fixing, according to the U.S. Department of Justice.

The indictment in U.S. District Court for Colorado names Jason McGuire, Timothy Stiller, Justin Gay, and Wesley Scott Tucker. It said they were managers and directors at the pork and poultry processor at various times between 2006 and 2019.

It said that “beginning at least as early as 2012” the four conspired “to suppress and eliminate competition by rigging bids and fixing prices and other price-related terms for broiler chicken products” in the U.S.

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The indictment refers to 10 unnamed national food service companies: seven in restaurants and fast food, two grocery store operators, and a distributor involved in or affected by the alleged conspiracy.

Four other former Pilgrim’s Pride executives indicted last year — Jayson Penn, Roger Austin, Jimmie Little, and William Lovette — were also named in the new filing as part of the discussion of the new allegations, which included accounts and transcripts of phone calls, texts, and emails.

Penn was an executive vice president and later CEO of Pilgrim’s Pride. Austin was a vice president, Little a sales director, and Lovette, president and CEO.

A judge in May moved the start of their trial from Aug. 2 to Oct. 25.

McGuire, Stiller, Tucker, and Gay were set to make initial court appearances this week. They are charged with violating the Sherman Antitrust Act. Each could get 10 years in prison and pay a $1 million fine.

The fine can be increased based on gain from the crime or loss suffered by victims if either is greater than the maximum amount and at the discretion of the district court judge, the Justice Department said in a press release.

Pilgrim’s Pride Corp. (NASDAQ: PPC) today was the target of a bid by its 80%-owner and global beef processor JBS SA to take the Greeley company private at $26.50 a share, for the portion it doesn’t own.

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