Wisconsin DOJ announces settlement in alleged multi-state scheme to raise egg prices

Key Points:

• A multi-state investigation revealed that three major egg producers—Cal-Maine Foods, Hickman’s Egg Ranch, and Versova—allegedly conspired for years to artificially raise egg prices by coordinating bids on a daily price index.
• The Wisconsin Department of Justice, along with attorneys general from 16 other states and the U.S. DOJ, reached a settlement requiring the companies to pay $3.3 million and provide over 50 million eggs to food banks and nonprofits nationwide.
• The settlement mandates the companies end price coordination, implement compliance measures, and cooperate with ongoing state oversight to ensure fair market competition.
• Cal-Maine Foods denied any wrongdoing, attributing the communications to a single former employee and stating the conduct did not impact prices, while the other companies have not commented.
• Wisconsin Attorney General Josh Kaul emphasized the importance of accountability to protect consumers from unfair price manipulation and highlighted the settlement’s role in addressing cost-of-living challenges.