DOJ and 17 AGs seek Tunney Act approval for egg price benchmark settlement

On June 30, 2026, the U.S. Department of Justice’s Antitrust Division and 17 state attorneys general announced they filed a civil antitrust lawsuit in the U.S. District Court for the Northern District of Iowa and submitted proposed settlements under the Antitrust Procedures and Penalties Act (APPA), often called the Tunney Act process. The court documents are dated June 29, 2026.

DOJ alleges the defendants coordinated bidding intended to inflate daily egg price quotations published by Urner Barry Publications—a benchmark DOJ says can influence wholesale egg prices paid by grocery stores, restaurants, and other buyers nationwide.

What DOJ alleges the companies did

DOJ says the alleged coordination included steps such as:

• agreeing to submit a large number of bids;
• having multiple defendants bid to signal to Urner Barry a wider set of market participants;
• placing bids in the hours leading up to Urner Barry’s quotation publication; and
• executing trades at premium prices.

DOJ also alleges that egg price quotations dropped from a peak after the defendants learned of the investigation and were instructed to preserve documents in March 2025.

Who is named in DOJ’s complaint

DOJ and state plaintiffs name Cal-Maine Foods Inc., Hickman’s Egg Ranch Inc., and the Versova entities—Centrum Valley Holdings LLC, Versova Holdings LLC, and Versova Management Cooperative.

What the proposed settlements would require (if a judge approves)

If the court enters final judgments, DOJ says the settlements would prohibit the defendants from, among other things:

• communicating with competitors about bidding strategies and about the prices, timing, and number of bids;
• communicating with competitors about certain information about bids, prices, supply, and demand that could be shared with a benchmark publication;
• agreeing with competitors on the number, pricing, or other terms of bids or transactions; and
• communicating with competitors about bids or transactions intended to affect a benchmark publication.

DOJ also says the settlements require antitrust compliance programs, including appointing antitrust compliance officers, monitoring meetings of cooperatives and joint ventures, and reporting potential settlement violations.

What to watch next in the Tunney Act timeline

This is a proposed settlement arrangement, not a final ruling on the merits. As required by APPA, the proposed settlements and related competitive impact materials would be published, and the public would be able to submit comments.

In the case paperwork, the comment window is described as 60 calendar days beginning with the first day of publication of a newspaper notice required by APPA or the publication in the Federal Register of the proposed final judgment and competitive impact statement—whichever is later.

After the comment period, the judge in the Northern District of Iowa would decide whether to enter final judgments after finding the settlements are in the public interest.

Sources

• U.S. Department of Justice (DOJ) — Press Release (egg benchmark manipulation proposed settlements)