At its annual meeting on Thursday, Tyson Foods shareholders rejected three proposals that would have increased investor oversight of the company's operations. Tyson also reported lower-than-expected sales in the first quarter as well as ongoing pandemic-related worker absenteeism and turnover.
Tyson Foods investors attending its online annual shareholder meeting this week will consider several proposals to increase oversight of the company, all of which stem from the company’s handling of the Covid-19. Thousands of Tyson workers have contracted the virus and dozens have died at plants around the country.
The largest U.S. poultry producer, Tyson Foods, said on Wednesday it would pay $221.5 million to settle antitrust litigation that accuses it of price fixing in the sale of broiler chicken meat.
Three months after a plea agreement with the government that included a $110.5 million fine, Pilgrim’s Pride, the second-largest U.S. poultry processor, said on Monday it would pay $75 million to settle a class-action lawsuit by its customers. Other price-fixing claims are pending in the …
Tyson Foods said on Wednesday that it had fired seven management employees at its hog slaughter plant in Waterloo, Iowa, following allegations that plant manager Tom Hart had organized a betting pool over how many of the plant's employees would become ill with Covid-19.
Former attorney general Eric Holder will lead an independent investigation into allegations that managers of a Tyson Foods hog plant in Waterloo, Iowa, ran a betting pool on how many employees would become ill with Covid-19, said the meat processor on Thursday.
After many months of surging cases, the number of new Covid-19 infections reported at meatpacking plants appears to have slowed. Yet with limited information from the major meatpackers on new cases at their facilities, advocates say it isn’t clear whether the trend reflects a true decline.(No paywall)
After years of failed attempts to draw attention to market concentration in the meat sector, farmers are cautiously optimistic about federal investigations into alleged antitrust violations in the chicken and beef industries. And grand jury indictments of four chicken industry executives could be a sign of more antitrust action to come, says a former attorney at the Department of Justice. (No paywall)
Two of the largest meat processors in the country, Tyson Foods and Cargill Meat Solutions, are among roughly 200 "approved suppliers" for a USDA initiative to buy surplus fresh produce, dairy products and pre-cooked chicken and pork for distribution to needy Americans. The USDA said it approved $1.2 billion in contracts for the Farmers to Families Food Box program but did not list individual awards.(No paywall)