Legal Proceedings
−Removed: Refer to the description of the “ Broiler Antitrust Civil Litigation ” under the heading “ Contingencies ” in Part I, Item 1, Notes to Consolidated Condensed Financial Statements, Note 15:
+Added: Refer to the description of the “ Broiler Antitrust Civil Litigation ” and the In re Broiler Chicken Grower Litigation matter under the heading “ Contingencies ” in Part I, Item 1, Notes to Consolidated Condensed Financial Statements, Note 15:
Commitments and Contingencies, which discussion is incorporated herein by reference.
Other than as set forth below and in our Annual Report on Form 10-K for the fiscal year ended October 3, 2020, as amended, there are no additional updates to the legal proceedings involving the Company and/or its subsidiaries.
−Removed: On January 27, 2017, Haff Poultry, Inc., Craig Watts, Johnny Upchurch, Jonathan Walters and Brad Carr, acting on behalf of themselves and a putative class of broiler chicken farmers, filed a class action complaint against us and certain of our poultry subsidiaries, as well as several other vertically-integrated poultry processing companies, in the United States District Court for the Eastern District of Oklahoma.
−Removed: On March 27, 2017, a second class action complaint making similar claims on behalf of a similarly defined putative class was filed in the United States District Court for the Eastern District of Oklahoma.
−Removed: Plaintiffs in the two cases sought to have the matters consolidated, and, on July 10, 2017, filed a consolidated amended complaint styled In re Broiler Chicken Grower Litigation.
−Removed: The plaintiffs allege, among other things, that the defendants colluded not to compete for broiler raising services “with the purpose and effect of fixing, maintaining, and/or stabilizing grower compensation below competitive levels.” The plaintiffs also allege that the defendants “agreed to share detailed data on [g]rower compensation with one another, with the purpose and effect of artificially depressing [g]rower compensation below competitive levels.” The plaintiffs contend these alleged acts constitute violations of the Sherman Antitrust Act and Section 202 of the Grain Inspection, Packers and Stockyards Act of 1921.
−Removed: The plaintiffs are seeking treble damages, pre- and post-judgment interest, costs, and attorneys’ fees on behalf of the putative class.
−Removed: We and the other defendants filed a motion to dismiss on September 8, 2017, and that motion was denied on January 6, 2020.
−Removed: The parties are now conducting discovery in the Oklahoma action.
−Removed: Additional named plaintiffs filed similar class action complaints in federal district courts in North Carolina, Colorado, Kansas and California.
−Removed: On October 6, 2020, the named plaintiffs in the Oklahoma action filed a motion with the United States Judicial Panel on Multidistrict Litigation (JPML) to transfer and consolidate all actions in the Eastern District of Oklahoma.
−Removed: On December 15, 2020, the JPML granted the plaintiffs' motion and consolidated all actions in the Eastern District of Oklahoma.
On December 19, 2019, Olean Wholesale Grocery Cooperative, Inc.
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We moved to dismiss the complaints, and in decisions on October 19 and 26, 2020, the court partially denied the motions.
−Removed: The parties are now conducting discovery.
+Added: In April 2021, we reached agreement to settle all claims related to these class actions on terms not material to the Company.
+Added: These settlements are subject to court approval.
+Added: While we do not admit any liability as part of the settlements, we believe that the settlements were in the best interests of the Company and its shareholders in order to avoid the uncertainty, risk, expense and distraction of protracted litigation.
Other Matters
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Our business is subject to a variety of risks and uncertainties.
−Removed: These risks are described elsewhere in our other filings with the SEC, including Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended October 3, 2020.
+Added: These risks are described elsewhere in our other filings with the SEC, including Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended October 3, 2020, as amended.
The risks identified in such reports have not changed in any material respect.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.