Lawsuits target ‘potato cartel' enabled by price data aggregators [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
Companies including Cavendish Farms, McCain Foods, JRS, and Lamb Weston, as well as the National Potato Promotion Board, conspired “to raise, stabilize, fix [or] otherwise manipulate the prices in the market for the frozen potatoes in the United States,” according to one of the lawsuits filed in U.S. District Court in the Northern District of Illinois. The four large potato processors had effectively formed a cartel, thereby breaking U.S. antitrust law, by having “the same access to each other's data on pricing and other sensitive information, as well as with a direct line of communication to each other,” the class action lawsuit filed Sunday alleges. This allowed them to “[move] prices skyward in lockstep,” the suit says. Price coordination between the ostensible competitors was enabled by mutual and exclusive participation in the market data aggregator PotatoTrac/NPD, a product made by market research firm Circana, which is also named in one of the suits. “Each of the defen
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News
- Running on Ice: Drones cozy up to cold warehousing [Yahoo! Finance]Yahoo! Finance
- 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 accuse ‘potato cartel' of price-gouging shoppers [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