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Pilgrim’s Pride Beats Investors’ Bid-Rigging Conspiracy Case

March 9, 2022, 6:17 PM

Pilgrim’s Pride Corp. is free of allegations it misled investors about a conspiracy to rig bids for broiler chickens after a federal judge in Colorado ruled the complaint failed to plead falsity and dismissed it with prejudice.

Investors say the chicken producer touted its performance while hiding its participation in an illegal bid-rigging conspiracy. The would-be class complaint didn’t properly allege that Pilgrim’s made false statements to investors, the U.S. District Court for the District of Colorado said.

Pilgrim’s agreed to pay a $108 million criminal fine in 2021 after pleading guilty to Justice Department allegations it conspired to ...