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.
Top Posts & Pages
- Host families prepare for Mississippi Braves’ season
- Ridgeland property rights tussle is expected to have wide impact
- JOSH MABUS — Mississippi’s Healthcare: Not a quality problem, a marketing problem
- Mississippi takes an incentives licking, keeps on ticking
- PHIL HARDWICK: When will Mississippi change its culture?
- Investors in Northbrook complex say Ridgeland targeting its own collateral for demolition
- AWAITING ITS FATE: Gables complex may have to shrink to meet law
- HUNTER ARNOLD: Mississippi, Gulf Coast states focus on global business markets
- Bill would open hospital meetings, expand records access