$110 million fine for Pilgrim's Pride
Pilgrim's Pride agreed to pay a $110 million fine in a plea agreement with the U.S. Department of Justice (DOJ) Antitrust Division after an investigation in which it was accused to fix the price for chicken meat products in the US market. "Pilgrim’s and the Antitrust Division agreed to a fine of $110,524,140 for restraint of competition that affected three contracts for the sale of chicken products to one customer in the United States," said a statement issued by Pilgrim's Pride. The agreement ends the investigation into Pilgrim's Pride for its role in alleged wide-ranging schemes to fix prices in the broiler market that has ensnarled several companies in multiple lawsuits. The agreement also does not recommend a monitor, any restitution or probationary period, and provides the DOJ will not bring additional charges against Pilgrim’s Pride in this matte, all contingent upon the company complying with the terms and provisions of the agreement.
Another fine of $256 million was dictated for J&F Investimentos, the parent company of the world's largest meatpacker JBS. Representatives of J&F Investimentos pleaded guilty to violations of the US Foreign Corruption Practices Act (FCPA). The amount of the bribes paid by J&F officials to high-level government officials exceeded $150 million and the company made $178 million in profit, U.S. prosecutors said in open court. Between 2005 and 2017, the company conspired to bribe officials to get the Brazilian government and other entities to arrange financing and equity transactions benefiting J&F, according to a U.S. charging document.
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