SEC won’t pursue Tyson Foods in price-fixing complaint

Tyson Foods said Friday the U.S. Securities and Exchange Commission is no longer investigating the company on the anti-trust issues relating to alleged price-fixing of chicken. The meat giant said it was notified by letter on Aug. 22.

“The letter stated that the SEC staff has concluded its investigation and that, based on the information it has as of that date, it does not intend to recommend an enforcement action by the SEC against Tyson,” the company noted in a release.

Tyson Foods has said repeatedly it had complied with the federal investigation. CEO Tom Hayes said the company looked forward to defending itself in this matter. The complaint came to light earlier this year when Tyson Foods was party to a lawsuit filed by New York-based foodservice distributor Maplevale Farms. The complaint alleged Tyson Foods and its competitors conspired to fix prices of chicken by colluding to keep broiler production low.

There has also been civil litigation filed by the Attorney General of Florida seeking to charge Tyson for damages to consumers who paid inflated prices for chicken. Again, Tyson says the claims are without merit.