Thursday, June 2, 2022

Koch Foods settles price-fixing lawsuit


Koch Foods Inc. is paying $15.5 million US to settle a class-action lawsuit that claimed chicken processors colluded to fix prices and production volumes. 


Koch is by far the smallest processor involved in the lawsuit, but is part of a wealthy conglomerate controlled by brothers who are famous (or infamous) for providing billions in funding for far-right politicians who advocate cutting taxes and reducing government.


Koch represents about six percent of the relevant poultry market among the defendants. Tyson Foods Inc. last August settled its portion of the case, filed by Half Poultry Inc. and other plaintiffs for $21 million.