Home Options Trading Advantage Options – Shares of Tyson Foods Hammered on Price Fixing...

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Shares of Tyson Foods (TSN) sunk -3.52% in heavy trading on Wednesday due to a report that the company had colluded with other suppliers to fix the price of poultry. The lawsuit was filed by Sysco Corp. and US Foods Holding Corp., the two largest U.S. food distributors. Pilgrim’s Pride and other suppliers were also named in the lawsuit as co-conspirators in manipulating poultry prices higher. Expect more pressure on TSN shares to push them lower, and at minimum look for increased volatility going forward. TSN shares settled at 76.11.

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