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New York State is suing one of America’s largest egg producers, claiming that it “gouged” prices during the first months of the pandemic.
State Attorney General Letitia James filed the suit Aug. 11 against Hillandale Farms, claiming that it made $4 million in extra, unjustified profits during March and April. The suit alleges that Hillandale raised the price it charged one retailer from $1.10 per dozen in January to $2.93 in March, and that it raised prices to U.S. Military Academy at West Point from 84 cents to $3.15 per dozen.
“As this pandemic ravaged our country, Hillandale exploited hardworking New Yorkers to line its own pockets,” James said in a press release. The suit seeks to make Hillandale repay its allegedly excessive profits and pay a fine of $25,000.
Hillandale replied that eggs were in short supply in retail channels in the early stages of the pandemic, and that it was simply reacting to market forces. Its primary source of pricing information is Urner Barry, a news service that provides price quotes for a variety of commodities, including eggs.
“We were shocked and dismayed to learn of the New York Attorney General’s lawsuit,” the company said in a statement. “Our approach to pricing has been consistent for decades, and without complaint, whether that has led to profits or losses, and the last several months have been no exception.”
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