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Egg Giants Settle Price-Gouging Probe | Business and Finance News
Description
Three giant egg companies are settling a major antitrust probe after allegedly colluding to inflate prices by faking higher demand — a scheme spanning nearly three years. As part of the deal, they’ll donate 53 million eggs and pay $3.3 million to food banks and states to help keep prices fair. Cal-Maine denies wrongdoing, Versova says it’s glad the case is over without admitting guilt, and Hickman’s remains silent. The Justice Department’s goal? To prevent future price-fixing. While the companies blame bird flu and pandemic disruptions for soaring prices — and argue eggs are naturally subject to market forces — shoppers are still feeling the pinch.
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