According to the Complaint, Pilgrim’s Pride Corporation is a large, vertically integrated producer of meat products. The majority of Pilgrim’s Pride’s annual sales arise from chicken products, which the Company primarily sells to grocers and chain restaurants.

The Complaint alleges that throughout the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose that: (1) Pilgrim’s Pride and its executives had participated in an illegal antitrust conspiracy to fix prices and rig bids from at least as early as 2012 and continuing through at least early 2017; (2) Pilgrim’s Pride received competitive advantages, which persisted during the Class Period, from its anticompetitive conduct; and (3) as a result, the Defendants’ statements about the Pilgrim’s Pride’s business, operations, and prospects lacked a reasonable basis.

On March 17, 2021, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on May 26. Defendants filed a Motion to Dismiss the consolidated Complaint on July 19.

On March 8, 2022, the Court issued an Order granting Defendants' Motion to Dismiss the consolidated amended Complaint and directed the Clerk of Court to close the case.