Cal-Maine settles anti-trust lawsuit filed in Pennsylvania
Published: July 23,2013
The claims were filed in Pennsylvania federal court. Class members can opt in or out of the settlement.
The class-action lawsuit alleges that Cal-Maine and some producers of shell eggs and egg products conspired to decrease the supply of eggs, causing direct purchasers to pay more than needed for eggs.
Cal-Maine Foods said it believes its conduct has been lawful, and it settled to avoid the distraction and expense of a drawn-out suit.
The terms of the settlement have to be approved by the court.
The Jackson, Miss., company said it will book a fiscal fourth-quarter charge of $17 million, or 71 cents per basic share.
Cal-Maine added that the settlement doesn’t include class actions filed on behalf of indirect purchasers or non-class action cases about price fixing. The company said it will “continue to vigorously defend” against these cases.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Voters to decide whether hunting, fishing is constitutional right
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- MARTIN WILLOUGHBY: Andrew Adams helps grow Addicus
- Grand juries charge seven with election violations
- Dak Prescott's autograph fetches a pretty penny
- Butler Snow names Crockoft new office director
- Farm theft investigation recovers $200K in stolen equipment
- MISSISSIPPI RISING: Time to sell the image
- C Spire wins national award, cash prize for marketing analytics