Poultry Producer Agrees to $110 Million Fine for Chicken Price Fixing

Earlier this week, poultry producer Pilgrim's Pride said that it had entered into a plea agreement with the D.O.J.The company agreed to pay a fine of $110.5 million to settle federal charges that it had engaged in price fixing.The plea means they will not have to pay restitution to consumers, restaurants, or supermarkets who paid inflated prices.The company reached the settlement after its former president and CEO and former vice-president were indicted.The executives were accused of working with Claxton Poultry to fix prices and rig bids on broiler chicken.Pilgrim's produces 13 billion pounds of poultry annually, which accounts for 17% of the U.S. chicken market