Three Leading Egg Producers Resolve Price‑Fixing Investigation With $3.3 Million Settlement

Organic eggs sit stacked on a loading dock in Petaluma, California, on February 18, 2025.

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The U.S. Department of Justice and 17 state attorneys general reached a $3.3 million settlement with three of the nation’s largest egg producers, according to the coalition, after allegations that the companies had manipulated egg prices.

The egg producers—Cal‑Maine Foods, Versova, and Hickman’s Egg Ranch—were accused of coordinating over nearly three years to inflate a daily price index, the coalition said, citing a year‑long investigation.

These allegations arise amid rising consumer costs and the fastest inflation pace in more than three years.

Egg prices served as a symbol of high inflation following the COVID‑19 pandemic.

In February 2023, average retail prices for a dozen large Grade A eggs spiked 150% from a year earlier, the largest annual change on record, according to the Bureau of Labor Statistics.

Economists attributed the surge to an outbreak of bird flu that decimated egg‑laying flocks and curtailed supply.

In separate statements, Cal‑Maine and Versova denied wrongdoing and blamed bird flu for price increases, while Hickman’s declined to comment.

A free‑egg giveaway will be held on March 21, 2025, in New York City.

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The Justice Department and the multistate coalition alleged that the three firms communicated secretly from approximately June 2022 to March 2025 to influence daily egg‑price quotes published by Urner Barry, a pricing benchmark widely used in egg‑supply contracts, according to New York Attorney General Letitia James.

New York was among the 17 states that joined the lawsuit, which also included Arizona, California, Colorado, Connecticut, Florida, Hawaii, Iowa, Maryland, Minnesota, North Carolina, Ohio, Pennsylvania, Texas, Utah, Vermont, and Wisconsin.

The proposed settlements, pending federal‑judge approval, would bar the companies from future coordinated price manipulation and require the adoption of antitrust compliance programs and appointment of compliance officers, the Justice Department said.

“Food affordability is a top priority of the Antitrust Division,” said former Acting Assistant Attorney General Omeed A. Assefi. “These settlements resolve years of conduct that adversely affected Americans’ finances and everyday lives.”

Cal‑Maine said it denied any wrongdoing and maintained that its conduct was lawful and in the best interest of supplying eggs.

Versova said accepting the settlement reflects its intention to move past the matter and focus on business.

Cal‑Maine agreed to pay $1.5 million, Hickman’s $1 million and Versova $800,000 to settle the coalition’s civil claims.

Collectively, the companies will donate roughly 53 million eggs to food banks and related nonprofit organizations.

Cal‑Maine and Versova pointed to repeated outbreaks of bird flu in recent years as the primary reason for higher egg prices.

“The period reviewed by the DOJ was particularly challenging,” said Sherman Miller, president and CEO of Cal‑Maine Foods, in a written statement. “Supply shocks—including avian influenza outbreaks, the COVID‑19 pandemic, weather and other market dynamics—compounded by high inflation, caused egg prices to surge periodically over the past five years.”

Egg price quotes dropped significantly from their peak after the defendants learned of the DOJ’s investigation in March 2025.

Versova also noted that most of its eggs are sold on grain‑based contracts, meaning the price customers pay fluctuates based on grain input costs for hen feed.

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