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Egg producers will pay $3.3M and donate 53 million eggs to settle price fixing claims (apnews.com)

submitted 2 weeks ago* (last edited 2 weeks ago) by MicroWave@lemmy.world to c/news@lemmy.world

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The U.S. Justice Department and 17 states reached settlement agreements with three major egg producers this week to resolve allegations that the companies illegally colluded for years to raise prices, including when the cost soared to record highs last year.

The states and federal government accused Cal-Maine Foods, Versova and Hickman’s Egg Ranch of a behind-the-scenes arrangement to “artificially inflate the daily price quotations for eggs” between June 2022 and March 2025. In particular, their investigation found that the companies coordinated on what bids they would submit to Urner Barry Publications, a company that runs an index key to determining how much grocery stores, restaurants and others pay for billions of eggs each year.

In turn, that meant “higher prices for eggs sold to consumers,” alleged the complaint, which was filed in Iowa on Monday, the day the settlement terms were announced.

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[-] BillyClark@piefed.social 40 points 2 weeks ago

If the fine isn't greater than the cost to consumers (which in this case is far, far more than their profits from the fraud), then this is essentially the government endorsing this behavior.

[-] justaman123@lemmy.world 18 points 2 weeks ago

Yeah just making sure the government gets it's cut

this post was submitted on 01 Jul 2026

195 points (100.0% liked)

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