Chicken processor Pilgrim’s Pride Corp. said it has agreed to a plea deal with the U.S. Justice Department to resolve price-fixing charges, and will pay a fine of $110.5 million. A guilty plea by Pilgrim’s, the second-largest U.S. chicken processor by sales, will make it the first company to admit in court to what prosecutors have alleged was a roughly seven-year effort across much of the U.S. chicken industry to inflate prices. That coordination pushed up poultry prices paid by fast-food chains and other chicken buyers, prosecutors...

Source: Wall Street Journal October 14, 2020 04:28 UTC