Attorney General Mayes Secures More Than 50 Million Eggs and $3.3 Million After Uncovering Illegal Scheme to Manipulate Egg Prices
PHOENIX — Attorney General Kris Mayes today secured more than 50 million eggs for consumers nationwide and $3.3 million from some of the nation's largest egg producers for colluding behind the scenes to raise prices. A bipartisan multistate investigation with the U.S. Department of Justice (DOJ) revealed that Cal-Maine Foods (Cal-Maine), Versova/Centrum (Versova), and Hickman's Egg Ranch (Hickman's) illegally coordinated for years to influence a daily price index for eggs, which artificially increased prices for retailers and consumers throughout the country.
"Arizonans have had to pay more for household staples due to illegal tariffs and rising inflation," said Attorney General Mayes. "But now we know that some prices increases, like those affecting eggs, were the result of illegal price-fixing by major egg producers. This settlement holds these companies accountable, ends their illegal conduct, and helps Arizonans who need it the most."
Attorney General Mayes and the coalition's investigation found that from approximately June 2022 to March 2025, the egg producers secretly communicated with each other to coordinate their bidding activity and influence the daily egg price quotes published by Urner Barry, a benchmark pricing service widely used in egg supply contracts. For example, in December 2022, Hickman's CEO emailed Versova and Cal-Maine executives urging them to submit "strong bids, early and often" to push prices higher. All three companies then submitted dozens of bids at higher prices, which led to Urner Barry increasing its price quotes. By manipulating the Urner Barry benchmark, the companies artificially inflated the price of eggs paid by retailers and consumers across the nation.
Under the settlement, all three companies must end their illegal coordination to manipulate prices, adopt compliance measures to prevent future violations, and fully cooperate with oversight by the states. The companies must designate antitrust compliance officers who will monitor for violations of the settlement and report violations to the states and DOJ. The 53 million donated eggs will be provided at the companies' expense to food banks and nonprofit organizations across the participating states and must meet all food safety and regulatory standards. The companies will also pay a combined $3.3 million to the states.
Joining Attorney General Mayes and DOJ in securing this settlement are the attorneys general of California, Colorado, Connecticut, Florida, Hawaii, Iowa, Maryland, Minnesota, New York, North Carolina, Ohio, Pennsylvania, Texas, Utah, Vermont, and Wisconsin.
Copies of the filings are attached.
