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A Guilty Plea Has Been Entered By Pilgrim s Pride | 94 3 Jack FM | Playing What We Want

By Travis Cleven Feb 26, 2021 3:35 AM This week Pilgrim’s Pride Corporation’s Chief Executive Fabio Sandri entered a guilty plea at a hearing in front of U.S. District Judge Raymond Moore in Colorado. The plea comes after Pilgrim’s Pride was charged with scheming from 2012 to at least 2019 to reduce production so they could hike up prices of broiler chickens. The company was sentenced to pay a fine of $107.9 million in order to settle the charges. Pilgrim’s Pride was the first poultry company to settle the charges for the price-fixing scam. Attorneys conclude that the company’s extortion had an impact of at least $361 million in sales of broiler chicken products.

Pilgrim s Pride pleads guilty to chicken price-fixing charge, to pay $107 9 million fine

2 Min Read (Reuters) - Pilgrim’s Pride Corp, one of the largest U.S. poultry producers, pleaded guilty and was sentenced to pay a $107.9 million fine on Tuesday to settle federal charges it conspired to fix chicken prices and passed on the costs to consumers and other purchasers. FILE PHOTO: Chicken is pictured in New York March 11, 2015. REUTERS/Lucas Jackson Chief Executive Fabio Sandri entered the guilty plea on the company’s behalf at a hearing before U.S. District Judge Raymond Moore in Denver. A plea agreement had been reached in October. The plea followed the indictments last year of 10 poultry industry executives, including former Pilgrim’s Pride Chief Executives Jayson Penn and Bill Lovette, on price-fixing charges. All 10 have pleaded not guilty.

Pilgrim s Pride pleads guilty to chicken price-fixing charge, to pay US$107 9 million fine

Pilgrim s Pride pleads guilty to chicken price-fixing charge, to pay US$107 9 million fine
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