On Thursday, Sen. Elizabeth Warren (D-Mass.) criticized the Donald Trump administration’s Justice Department after it reached a $3.3 million settlement with three major egg producers accused of coordinating to inflate egg prices.
Warren Calls Egg Settlement ‘Shameful’
Warren blasted the settlement in a post on X, accusing the administration of being too lenient on companies accused of driving up grocery costs.
“NEW evidence shows executives from 3 egg companies plotted to raise your prices,” Warren wrote. “Price fixing is ILLEGAL.”
She went on to criticize the size of the penalties, saying the companies received “a mere slap on the wrist” and alleged that the largest producer would pay just “0.001% of its profit last year.”
Warren concluded her post by calling the outcome “Shameful.”
NEW evidence shows executives from 3 egg companies plotted to raise your prices.
— Elizabeth Warren (@SenWarren) July 2, 2026
Price fixing is ILLEGAL.
But Trump’s Justice Department is giving them a mere slap on the wrist.
How small? The largest egg company only has to cough up 0.001% of its profit last year.
Shameful.
DOJ Reaches Settlement Over Alleged Egg Price Collusion
The criticism follows a settlement announced on Monday by the Justice Department and attorneys general from 17 states with Cal-Maine Foods (NASDAQ:CALM), Versova and Hickman’s Egg Ranch.
Authorities alleged the companies secretly coordinated from June 2022 through March 2025 to influence a widely used daily egg price benchmark, artificially increasing prices paid by retailers and consumers.
Under the proposed agreement, Cal-Maine will pay $1.5 million, Hickman’s $1 million and Versova $800,000, CNBC reported on Tuesday.
The companies also agreed to donate about 53 million eggs to food banks and nonprofits, with an estimated retail value of roughly $9.7 million.
The settlement, which still requires federal court approval, also requires the companies to adopt antitrust compliance programs and measures aimed at preventing future coordination.
Companies Deny Wrongdoing, Cite Bird Flu
None of the companies admitted liability.
In a statement on Monday, Cal-Maine said it believes the claims are “baseless” and maintained its conduct was lawful.
CEO Sherman Miller said repeated outbreaks of avian influenza, along with the COVID-19 pandemic, inflation, weather and other market forces, caused egg prices to surge.
In an emailed statement to the publication, Versova similarly denied wrongdoing, saying its decision to settle reflects its desire to “put this matter behind us and focus on our business.”
Mantiqueira USA, which owns Hickman’s, said the alleged conduct predates its acquisition of the company and that it remains committed to complying with all applicable laws, the report said.
Versova and Hickman did not immediately respond to Benzinga’s request for comment.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Bryan J. Scrafford on Shutterstock.com
