Chicken Price Fixing

[klflowers]

I ran across this on a financial site I frequent. I thought is was interesting, especially with the e-book Meathead just released:

Chicken price-fixing

Pilgrim's Pride (NASDAQ:PPC) has agreed to a plea deal with the U.S. Justice Department to resolve price-fixing charges, and will pay a fine of $110.5M. A guilty plea by the poultry giant will make Pilgrim's the first business to admit in court to what prosecutors have alleged was a roughly seven-year effort (from 2012 to early 2019) to inflate prices across much of the U.S. chicken industry. Current and former employees of other chicken companies, including Tyson Foods (NYSE:TSN), have also been charged, and the latter has been cooperating with the government's investigation under a corporate leniency program.

[HawkerXP]

How do we get our share of that $110.5 M?

[klflowers]

Maybe they will send us a couple chicken wings.

[RonB]

Your chicken is in the mail...

[STEbbq]

I am imagining the follow up article here after we put in our collective claims.

”A group of members from the Pitmasters’ club have claimed more than 80% of the settlement dollars as they provided receipts showing they smoked more than 80% of the nation’s wings sold over the time period covered. The near-$90 million haul is reportedly being reinvested in some wagyu prime beef, wireless meat thermometers, and shipping smokers to the US from this guy they call Hank.”

[mnavarre]

Lawyers for the Plaintiffs garnered 99.7% of the roughly 90 million dollars, leaving the affected class with a windfall of roughly .005¢ each.

[Uncle Bob]

My late FIL was in on one of those asbestos suits a number of years ago. His "payment" arrived in the form of a check........48 cents. The lawyers probably did better than that.

[STEbbq]

I also heard the lawyers were planning to take 99% of it like you suggest, but fortunately, Meathead lifted up his head and raised his spatula (aka Mjölnir), and the members ended up with the monies.