Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

The U.S. Justice Department and 17 states reached settlement agreements with three major egg producers this week to resolve allegations that the companies illegally colluded for years to raise prices, including when the cost soared to record highs last year. The states and federal government accused Cal-Maine Foods, Versova and Hickman’s Egg Ranch of a behind-the-scenes arrangement to “artificially inflate the daily price quotations for eggs” between June 2022 and March 2025. In particular, their investigation found that the companies coordinated on what bids they would submit to Urner Barry Publications, a company that runs an index key to determining how much grocery stores, restaurants and others pay for billions of eggs each year. In turn, that meant “higher prices for eggs sold to consumers,” alleged the complaint, which was filed in Iowa on Monday, the day the settlement terms were announced. “When powerful corporations collude behind the scenes to raise prices, working families suffer the costs,” New York Attorney General Letitia James, who helped lead the investigation, said in a statement. “These egg producers manipulated the market to squeeze even more profit out of consumers and businesses.” None of the companies admitted wrongdoing under the settlements. But to settle the states’ claims, Cal-Maine, Versova and Hickman’s will collectively be on the hook for $3.3 million and 53 million eggs, James and others said. Those eggs would be donated by the companies and make their ways to food banks and nonprofits. The money will be distributed to the states. The Justice Department and the states also outlined actions the companies will need to take, including adopting antitrust compliance programs and banning communicating with competitors on pricing and bidding strategies. The settlements would still need court approval. The Justice Department’s Omeed A. Assefi said Tuesday that the proposed settlements “resolve years of conduct tha