Cal-Maine Foods, Inc. Issues Statement On Recent Court Decision; Says "Cal-Maine Foods Will Vigorously Contest Plaintiffs' Presentation Of Purported Damages And Will Continue To Assess The Decision And Options For Appeal"
Portfolio Pulse from Benzinga Newsdesk
Cal-Maine Foods, Inc. (NASDAQ:CALM), the largest U.S. fresh shell egg producer, will contest damages after a jury found them liable for allegedly conspiring to inflate egg prices. The case, dating back 20 years, resulted in a decision limiting alleged damages to 2004-2008. Cal-Maine Foods plans to assess the decision and consider an appeal.
November 22, 2023 | 2:46 pm
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Cal-Maine Foods faces legal challenges after a jury verdict found them liable for conspiring to inflate egg prices, with the damages phase pending.
The negative jury verdict regarding the price-fixing allegations could lead to significant financial damages for Cal-Maine Foods, which may negatively impact investor sentiment and the stock price in the short term. The company's intent to contest the damages and consider an appeal adds uncertainty to the final outcome, but the immediate reaction to such legal setbacks is typically negative.
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