DOJ, State AGs Settle Egg Price Case with Hickman’s and Two Others, No Criminal Charges

Federal and state officials accused three major egg producers, including Arizona-based Hickman’s Egg Ranch, of coordinating bids to manipulate benchmark egg prices during a period of sharp food inflation, but resolved the case through civil settlements requiring $3.3 million in payments, antitrust compliance measures, and more than 53 million eggs for food banks and nonprofit organizations.

No criminal charges against the companies or any executives were announced in the U.S. Department of Justice’s settlement announcement, the Arizona Attorney General’s announcement, or the California Attorney General’s announcement.

The case was filed in the U.S. District Court for the Northern District of Iowa as a civil antitrust action seeking equitable relief under Section 1 of the Sherman Act against Cal-Maine Foods, Inc., Hickman’s Egg Ranch, Inc., and Centrum Valley Holdings LLC, Versova Holdings LLC, and Versova Management Cooperative, collectively referred to as Versova.

Arizonans have had to pay more for household staples due to illegal tariffs and rising inflation, but now we know that some prices increases, like those affecting eggs, were the result of illegal price-fixing by major egg producers.

Press Release: https://t.co/kaRLcllamd pic.twitter.com/FY84p8S8T8

— AZ Attorney General Kris Mayes (@AZAGMayes) June 30, 2026

DOJ’s own public guidance states that agreements among competitors to fix prices, rig bids, or allocate customers, workers, or markets are “criminal violations” under the Sherman Act. The Justice Department also states in its Justice Manual that, while Sherman Act violations may be prosecuted as felonies, the Department generally reserves criminal prosecution under Section 1 for “per se” unlawful restraints of trade among competitors, including price-fixing, bid rigging, and market allocation agreements.

A separate DOJ Antitrust Resource Manual describes price-fixing, bid rigging, and market allocation as “per se” unreasonable restraints of trade, stating that courts have treated those practices as unlawful without further analysis of reasonableness or economic justification because they raise prices to consumers and lack legitimate competitive purpose. DOJ materials state that criminal penalties for Sherman Act violations can include fines of up to $100 million for corporations, fines of up to $1 million for individuals, and up to 10 years in prison for individuals. 

The public filings and agency announcements reviewed by The Globe do not explain why the case was handled as a civil enforcement action rather than a criminal prosecution.

Justice Department Requires Egg Producers to End Coordinated Benchmark Manipulation that Artificially Inflated Prices Across the Country: The Proposed Settlements Will Ensure Competitive Prices for Consumers by Stopping Coordination to Inflate Egg Prices

“Food affordability is a… pic.twitter.com/ggKuZGCgjD

— Antitrust Division (@JusticeATR) June 30, 2026

The DOJ complaint alleged that from June 2022 through March 2025, the companies agreed to submit bids designed to artificially inflate daily egg price quotations published by Urner Barry Publications, a market reporting firm whose price quotes are widely used in egg supply contracts. DOJ alleged that because many retail contracts incorporate Urner Barry quotations, higher benchmark quotes lead to higher prices paid by retailers and consumers.

The Arizona Attorney General’s Office said the multistate investigation with DOJ found that Cal-Maine, Versova, and Hickman’s “illegally coordinated for years to influence a daily price index for eggs,” artificially increasing prices for retailers and consumers nationwide.

According to DOJ, Urner Barry considers trades, bids, and offers when it issues daily price quotations used by grocery stores, restaurants, and other buyers. DOJ alleged that the companies coordinated bids to make egg demand appear stronger than it was, including by submitting large numbers of bids shortly before Urner Barry issued its daily quotations, causing multiple companies to bid, submitting bids unlikely to lead to trades, and executing trades at premium prices.

The federal complaint identified Hickman’s Egg Ranch as an Arizona corporation headquartered in Buckeye. DOJ cited several alleged communications involving Hickman’s CEO, including an October 2022 example in which a Cal-Maine executive allegedly texted Hickman’s CEO, “[w]e are bidding up. Let’s hold it today.” The complaint alleged that Hickman’s and Cal-Maine bids accounted for more than half of the bids submitted that day and that Urner Barry kept its quotations unchanged. 

In another example, DOJ alleged that on Dec. 20, 2022, Hickman’s CEO emailed senior executives from Cal-Maine, Versova, and others, stating, “[p]lease consider posting strong bids, early and often. The market reporters don’t get in for another hour, so it will be good for them to see diverse bidding upon logging on.”

The complaint further alleged that Hickman’s CEO later emailed, “[h]urry[.] There are only 16 bids on ECI right now and 15 of them are ours,” after which all three defendants collectively submitted dozens of bids on Egg Clearinghouse, most at premium prices. DOJ alleged that Urner Barry increased its price quotations for white, large shell eggs across all regions that day.

DOJ also alleged that on Dec. 21, 2022, the CEO of a cooperative repeated Hickman’s earlier concern that Urner Barry might push prices downward, writing that Urner Barry was “prepared to pull the market down” and adding, “[a]s a group we need to bid like they vote in Chicago, early and often.” The complaint alleged Hickman’s CEO repeated the instruction the following morning with the subject line “bids,” writing, “[b]id early and often today.”

According to Hickman’s Family Farms, the company’s President & CEO is Glenn Hickman, brother of then-Maricopa County Supervisor Clint Hickman, who currently serves as Hickman’s Vice President of Sales and Marketing.

The proposed settlements require the companies to stop the alleged conduct, adopt antitrust compliance programs, appoint antitrust compliance officers, monitor cooperative and joint venture meetings, and report potential violations to DOJ and the states, according to the Justice Department.

California Attorney General Rob Bonta was among the state attorneys general joining the action. In a statement from his office, Bonta said the settlement will deliver 8.9 million eggs, or 741,666 egg cartons, directly to California food banks over the coming months and years.

“As Californians scrambled to feed their families, three egg producers conspired to act illegally and hatched a plan to raise the cost of eggs nationwide,” Bonta said. “My office and our federal and state partners stepped in, and as part of our settlement, California food banks from Siskiyou County to San Diego County will receive 8.9 million eggs.”

Under the Hickman’s stipulation and order, Hickman’s will provide 3.25 million eggs to food banks or related nonprofits in settling states where the company currently does business, at Hickman’s expense, within 18 months of the filing of the complaint. The eggs must be unspoiled, non-expired, non-damaged medium or large white Grade A eggs with at least a 20-day shelf life and must meet applicable food safety and regulatory standards, including California Proposition 12 requirements for donee organizations in California.

Hickman’s will also pay the settling states $1 million, according to the stipulation. The payment is described in the agreement as “provided for the purposes of settlement only” and “not a penalty.”

The total settlement across the three companies includes $3.3 million to the states and more than 53 million eggs for food banks and nonprofits, according to DOJ, the Arizona Attorney General’s Office, and the California Attorney General’s Office.

The Associated Press reported that none of the companies admitted wrongdoing under the settlements. AP reported that Cal-Maine will donate 30 million eggs and pay $1.5 million, Versova will provide 20 million eggs and pay $800,000, and Hickman’s will provide 3.25 million eggs and pay $1 million.

AP also reported that average U.S. egg prices reached about $6.23 per dozen in March 2025 during an avian flu outbreak, and that the government’s complaint said egg price quotations “dropped significantly” after the companies learned of DOJ’s investigation and were instructed to preserve documents in March 2025.

Hickman’s Egg Ranch has long been associated with former Maricopa County Supervisor Clint Hickman, who served as chairman during the 2020 election. A 2023 Maricopa County release said that as chairman in 2020, Hickman “resisted calls to stop counting votes” and attempts to overturn the results. In 2020, Hickman said there was “no evidence of fraud or misconduct or malfunction” in Maricopa County’s election, according to Phoenix New Times.

Hickman later chose not to seek reelection in 2024. A Maricopa County statement from then-Supervisor Bill Gates said Hickman had faced intense pressure in 2020 to refuse to certify the presidential election results, and The Guardian reported that Hickman cited his family and a desire to spend more time with them in deciding not to run again.

The alleged conduct overlapped with Hickman’s final years on the Maricopa County Board of Supervisors, though public filings and agency announcements reviewed by The Globe do not establish that the state or federal investigation was underway before he left office in January 2025.

The civil complaint names Hickman’s Egg Ranch, Inc. as a defendant. It does not name Clint Hickman personally as a defendant.

Hickman’s current owner, Mantiqueira USA, told Arizona’s Family that the conduct referenced in the complaint predates its acquisition of Hickman’s Egg Ranch in November 2025.

“This settlement fully resolves the allegations against Hickman’s Egg Ranch related to that period,” the company said. “We are committed to complying with all applicable laws and regulations and to conducting business with the highest standards of integrity.”

The Hickman’s stipulation states that nothing in the agreement waives or limits private damages claims by third parties, including state or local government agencies or citizens of the settling states, whether directly or as a class action.

Under the Tunney Act process, DOJ said the proposed settlements and competitive impact statements will be published in the Federal Register, followed by a 60-day public comment period. The U.S. District Court for the Northern District of Iowa may enter final judgments if it finds the proposed settlements are in the public interest, according to the Justice Department.