A ‘potato cartel' conspired to make your frozen fries 47% more expensive, lawsuits claim [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
Multiple proposed class action lawsuits filed this week allege that four frozen potato producers—Cavendish Farms, Lamb Weston, McCain Foods, and the J.R. Simplot Company—conspired and shared trade information to coordinate price increases in 2021. In a complaint filed Friday, Pennsylvania grocery chain Redner's Markets alleges that the four companies illegally fixed prices for tater tots, french fries, and hash browns, gouging consumers and commercial customers. And in a lawsuit filed Sunday, plaintiffs claimed the companies engaged in antitrust practices by using data aggregation services and shared access to sensitive information to artificially fix prices. From 2022 to 2024, prices of frozen potato products increased 47% , one lawsuit said. “Armed with 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 potato cartel moves prices skyward in lockstep—harming all purchasers of potatoes
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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 [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
- Lawsuits target ‘potato cartel' enabled by price data aggregators [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