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Shell Shocked: Producers to Give 53 Mn Eggs to Food Banks in US Settlement
The companies will also pay $3.3 million and adopt new compliance measures after investigators said they manipulated a key egg price benchmark.
- On Wednesday, the Department of Justice and New York Attorney General Letitia James announced a settlement with egg producers Cal-Maine, Versova, and Hickman, requiring them to donate 53 million eggs to food banks nationwide.
- Since at least 2022, the producers secretly coordinated bidding to influence daily price quotes published by Urner Barry, a benchmark pricing service, artificially inflating egg prices for retailers and consumers.
- In addition to egg donations, a coalition of 17 states required the companies to pay $3.3 million to the government and adopt new compliance measures to prevent future illegal coordination.
- New York will receive nearly 5 million eggs distributed through Feeding New York, with an initial 280,000 eggs delivered to Brooklyn's City Harvest assisting more than 20,000 New Yorkers in need.
- Attorney General James called the collusion "unconscionable," stating: "The law is clear: price fixing of any kind is not tolerated in New York, or across our nation." The settlement reflects enforcement priorities.
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16 Articles
16 Articles
Three US producers agreed to distribute millions of eggs to food banks after being charged with illegal price manipulation Give 53 million eggs to banks
·France
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Three giants in the sector have entered into an agreement with the US justice system to have heard about prices for several years, and they will have to hand over these eggs to food banks and NGOs.
·Paris, France
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Total News Sources16
Leaning Left4Leaning Right2Center5Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 36%
C 46%
R 18%
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