Three major egg producers, Cal-Maine Foods, Hickman’s Egg Ranch, and Versova Holdings, have reached a settlement with the Department of Justice (DOJ) and 17 states regarding allegations of price manipulation. The lawsuit claimed that the companies conspired to inflate egg prices between 2022 and 2025. Under the settlement, the companies will pay a total of $3.3 million and donate 53 million eggs to food banks and nonprofit organizations, although they admitted no wrongdoing.
The complaint stated that the egg producers allegedly manipulated industry price benchmarks, affecting wholesale egg prices nationwide through coordinated bidding strategies and private trades. As a result, wholesale egg prices peaked at $6.23 per dozen in March 2025, before falling to an average of $2.19 per dozen by May 2026, following the DOJ's investigation.
Texas Attorney General Ken Paxton noted that Texas will receive 7 million eggs from the settlement. He emphasized the importance of holding corporations accountable for violations that lead to price increases for consumers. The other states involved in the lawsuit include Arizona, California, Colorado, Connecticut, Florida, Hawaii, Iowa, Maryland, Minnesota, New York, North Carolina, Ohio, Pennsylvania, Utah, Vermont, and Wisconsin. The proposed settlements are pending approval from the U.S. District Court for the Northern District of Iowa.