HARRISBURG, Pa. (WTAJ) \u2014 Attorney General Dave Sunday got \u201ceggsactly\u201d what he wanted \u2014 a settlement from the nation\u2019s largest egg producers after an illegal price manipulation scheme was uncovered.<\/p>\n
Sunday announced a multistate settlement that will deliver around 3.4 million eggs (288,075 dozen) to Pennsylvania food banks and community organizations.<\/p>\n
The bipartisan investigation, which included the U.S. Department of Justice and attorneys general, found that Cal-Maine Foods (Cal-Maine), Versova\/Centrum (Versova) and Hickman\u2019s Egg Ranch (Hickman\u2019s) illegally coordinated for years to influence a daily price index for eggs, according to Sunday. This artificially increased prices for retailers and consumers throughout the country.<\/p>\n
\u201cAs Pennsylvania families continue to feel the impact of rising food costs, businesses should compete fairly \u2014 not conspire to drive prices higher,\u201d Sunday said. \u201cThis settlement holds these companies accountable for manipulating egg prices and delivers a direct benefit to Pennsylvanians through millions of eggs that will help feed families in need across the Commonwealth.\u201d<\/p>\n
Sunday and the coalition\u2019s investigation found that from roughly June 2022 to March 2025, the named producers secretly communicated with one another to coordinate bidding activity, effectively influencing the daily egg price, Sunday added.<\/p>\n
Prices are published by Urner Berry, a benchmark pricing service that\u2019s widely used in egg supply contracts.<\/p>\n
In December 2022, Hickman\u2019s CEO emailed Versova and Cal-Main and urged them to submit \u201cstrong bids, early and often\u201d to push prices higher, Sunday used as an example. All three then submitted prices, which increased price quotes, effectively manipulating the Urner Barry benchmark. Retailers and consumers then paid more as egg prices skyrocketed, outpacing the average inflation rate at the time.<\/p>\n
The companies must now end their illegal coordination to manipulate prices, implement compliance measures designed to prevent future violations, and fully cooperate with oversight by the participating states, according to the settlement. Each company will also designate an antitrust compliance officer responsible for monitoring compliance and reporting violations to the states and the DOJ.<\/p>\n
Part of the settlement will see the companies donate 53 million eggs at their expense to food banks and nonprofits across participating states, including 3.4 million to Pennsylvania. The companies will also pay a combined $3.3 million to the states.<\/p>\n
Joining Attorney General Sunday and the DOJ in securing this settlement are the attorneys general of Arizona, California, Colorado, Connecticut, Florida, Hawaii, Iowa, Maryland, Minnesota, New York, North Carolina, Ohio, Texas, Utah, Vermont and Wisconsin.<\/p>\n
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