Three of the largest U.S. poultry processors have agreed to settle claims by the Justice Department over their alleged longstanding effort to share information about workers in order to drive down compensation. Cargill, Sanderson Farms and Wayne Farms have agreed to pay more than $84 million in restitution to workers harmed by the information sharing to resolve civil antitrust lawsuits, according to proposed consent decrees made public Monday. "Through a brazen scheme to exchange wage and benefit information, these poultry processors stifled competition and harmed a generation of plant workers who face demanding and sometimes dangerous conditions to earn a living," said Doha Mekki of the Justice Department's Antitrust Division in a statement.
Oxford Industries, The Chef's Warehouse and Sanderson Farms have been highlighted in this Screen of The Week article.
MP Materials Corp. (NYSE:MP) will replace Sanderson Farms Inc. (NASD:SAFM) in the S&P MidCap 400 effective prior to the opening of trading on Wednesday, July 27. Cargill and Continental Grain acquired Sanderson Farms in a deal that closed today.