SEC probing claims of chicken-pricing collusion, says Tyson
Company says it's been subpoenaed and is cooperating with the probe
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ACCUSATIONS of collusion that have dogged the American chicken industry in recent months took a new turn after Tyson Foods Inc, the country's largest producer, said that the US Securities and Exchange Commission is investigating the allegations and sent it a subpoena.
The company said on Monday in a filing that based upon the limited information it has, Tyson believes the investigation is related to the allegations contained in antitrust litigation involving broiler chickens. The Springdale, Arkansas-based company and its largest competitors have been named as defendants in a series of lawsuits in recent months that claim the industry colluded starting in 2008 to drive prices higher, allegations denied by Tyson and the other producers.
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