Cal-Maine Foods, Inc. (CALM) Agrees $1.5M Settlement on Major Egg Scandal
Insider Trading
Cal-Maine Foods settled for $1.5 million and will donate 30 million eggs to resolve egg price‑fixing claims.Summary
Cal-Maine Foods Inc. (NASDAQ: CALM) agreed to a $1.5 million settlement with the U.S. Department of Justice and a coalition of state attorneys general from 17 states to settle allegations that it and other major egg producers colluded through a cooperative to manipulate cage‑free egg prices. As part of the settlement, Cal-Maine will also donate 30 million eggs to food banks and nonprofits, while maintaining that it denied any wrongdoing and that its conduct was lawful. The company noted it had exited the cooperative before the investigation began. Cal-Maine is the largest U.S. producer and distributor of fresh shell eggs, offering conventional, cage‑free, organic, specialty and value‑added egg products.
(Source：Insider Trading)