In another twist to the price-fixing lawsuits, Pilgrim’s Pride has settled a class-action lawsuit filed by investors who said the company misled them about the reasons for its profits.
The settlement resolved nearly a decade of litigation in federal court in Colorado.
The 2016 lawsuit alleged the company misrepresented its profitability, attributing it to product mix and pricing strategies rather than anti-competitive practices.
The settlement covered stock purchases made between February 2014 and November 2016 and requires approval from U.S. District Judge R. Brooke Jackson.
In 2021, the company pleaded guilty to federal price-fixing charges and paid a $107.9 million fine. In 2023, it agreed to pay $100 million to settle claims that it conspired to underpay chicken farmers.
