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.
“These egg producers manipulated the market to squeeze even more profit out of consumers and businesses.”.
But to settle the states’ claims, Cal-Maine, Versova and Hickman’s will collectively be on the hook for $3.3 million and 53 million eggs, James and others said.
Egg producers blamed price spike on the outbreak, but critics accused big companies of taking advantage of their market dominance and the government began its investigation.
Instead, Versova said the price of most of its eggs depends on cost fluctuations of grain used in hen feeds.
Under its settlement agreement with the states, the company would pay $1.5 million and donate 30 million eggs.
Meanwhile, per court documents, Versova would provide 20 million eggs and $800,000, and Hickman’s would be on the hook for 3.25 million eggs and $1 million. »
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