US DOJ Probes Poultry Companies Over Employment Practices: Report

The Justice Department in the U.S. has launched an investigation into whether poultry companies have engaged in anticompetitive sharing about employment practices, the Wall Street Journal reported.
The move adds to the scrutiny that U.S. meat processors face from the government and their workers for holding down wages.
The report noted that the department had put at least some companies on legal notice to preserve documents.
Pilgrim’s Pride Corp PPC recently disclosed in a regulatory filing that it learned on February 9, 2022, that the DOJ had opened a civil investigation into human resources antitrust matters. The company plans to cooperate when a CID is served.
Other major companies in the industry include Tyson Foods Inc TSN and Sanderson Farms Inc SAFM.
The Biden administration has alleged that the U.S. meat industry uses its scale to inflate Americans’ food bills.
Price Action: PPC shares are trading lower by 4.66% at $23.13, TSN down by 1.49% at $93.92, and SAFM lower by 0.92% at $177.50 on the last check Friday.