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
- UMMC reaching out after death of high school football player
- Thousands of acres of Delta farmland to go on auction block
- Former Godwin CEO Danny Mitchell dies at 66
- Tragedy for Jackson Prep: Football player Walker Wilbanks dies
- Board files suit against VA over release of patients' names
- City trying to determine who has authority to spend gaming money
- Gov. Bryant sets special election date for Senate District 17
- Mississippi sounds coming to Americana Music Festival & Conference
- Northrop Grumman lands $354M Air Force contract for Global Hawks