Lawsuits accuse ‘potato cartel' of price-gouging shoppers [Yahoo! Finance]
Lamb Weston Holdings, Inc. (LW)
Last lamb weston holdings, inc. earnings: 4/1 08:30 am
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Source: Yahoo! Finance
Producers of frozen potato products allegedly conspired to inflate the prices of the fast-food staples by almost 50 per cent, according to multiple federal lawsuits filed in the last week. Cavendish Farms, McCain Foods, the J.R. Simplot Company and Lamb Weston, who together control over 95 per cent of the market, are accused of breaking anti-trust law by co-ordinating price rises since 2021. A plaintiff in a suit filed in Illinois alleged that the companies announced almost-identical rises within days of each other on several occasions, and shared data while maintaining a “direct line of communication”. This allowed them to move “prices skyward in lockstep,” according to the complaint. The potato giants conspired “to raise, stabilise, fix [or] otherwise manipulate the prices in the market for the frozen potatoes in the United States,” it continued. “Armed with the same access to each other's data on pricing and other sensitive information, as well as with a direct line of c
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News
- A ‘potato cartel' conspired to make your frozen fries 47% more expensive, lawsuits claim [Yahoo! Finance]Yahoo! Finance
- A ‘potato cartel' conspired to make your frozen fries 47% more expensive, lawsuits claim [Fortune]Fortune
- Idaho frozen french fry manufacturers sued for price fixing, forming potato ‘cartel' [Yahoo! Finance]Yahoo! Finance
- Lawsuits target ‘potato cartel' enabled by price data aggregators [Yahoo! Finance]Yahoo! Finance
- Hot potato: Redner's lawsuit accuses companies of creating frozen french fry cartel [Yahoo! Finance]Yahoo! Finance
LW
Earnings
- 10/1/24 - In-Line
LW
Sec Filings
- 11/12/24 - Form SC
- 11/5/24 - Form 4
- 10/31/24 - Form 144
- LW's page on the SEC website