CALM 8-K
Cal-Maine Foods Inc (CALM)
8-K
2023-11-22
For: 2023-11-21
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Added on
April 11, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Item 8.01. Other Events
On November 22, 2023, Cal-Maine Foods, Inc. (the “Company”) issued the press release attached as Exhibit 99.1 to this
Current Report, which is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit
Number
Description
99.1
104
Cover Page Interactive Data File, (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements for the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
CAL-MAINE FOODS, INC.
Date:
November 22, 2023
By:
/s/ Max P. Bowman
Max P. Bowman
Director, Vice President, and Chief Financial Officer
Exhibit 99.1
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Contacts:
Sherman Miller, President and CEO
Max P. Bowman, Vice President and CFO
(601) 948-6813
CAL-MAINE FOODS, INC. ISSUES STATEMENT ON RECENT COURT VERDICT
RIDGELAND, Miss. (November 22, 2023)
―
Foods” or the “Company”), the largest producer and distributor of fresh shell eggs in the United States,
today issued the following statement:
Approximately 20 years ago, Cal-Maine Foods along with many other fresh egg producers in the United
States, responded to growing demands from consumers and retailers to improve the overall treatment of egg
laying hens. These programs were in line with other prevailing animal welfare laws across the protein
industry and were not intended to restrict supply and affect prices. The programs were supported by our
customers and form the basis of many state laws across the country today.
On November 21, 2023, a jury found that defendants, including Cal-Maine Foods, Inc., were liable for an
alleged conspiracy to inflate egg product prices in the case Kraft Foods Global, Inc. et al. v. United Egg
Producers, Inc. et al., Case No. 1:11-cv-8808 in the U.S. District Court for the Northern District of Illinois.
The damages phase of the trial is scheduled to take place on November 28
and 29, 2023.
While we are disappointed with the overall decision, we prevailed on a number of issues that we believe are
important and should ultimately define this case. The plaintiffs alleged a conspiracy running from 1998-
2008 with damages extending through 2012. The court and jury determined that any alleged damages would
be limited to the period 2004-2008. The jury also rejected other key portions of the plaintiffs’ case that we
believe should limit the plaintiffs’ damages request further.
Cal-Maine Foods will vigorously contest plaintiffs’ presentation of purported damages and will continue to
assess the decision and options for appeal.
About Cal-Maine Foods
Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packaging, marketing and
distribution of fresh shell eggs, including conventional, cage-free, organic, brown, free-range, pasture-
raised and nutritionally enhanced eggs. The Company, which is headquartered in Ridgeland, Mississippi,
is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its
shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the
United States.
Forward Looking Statements
Statements contained in this press release that are not historical facts are forward-looking statements as that
term is defined in the Private Securities Litigation Reform Act of 1995. The forward-looking statements are
based on management’s current intent, belief, expectations, estimates and projections regarding our company
and our industry. These statements are not guarantees of future performance and involve risks, uncertainties,
assumptions and other factors that are difficult to predict and may be beyond our control. The factors that
could cause actual results to differ materially from those projected in the forward-looking statements include,
among others, (i) the risk factors set forth in the Company’s SEC filings (including its Annual Reports on Form
10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K), (ii) the risks and hazards inherent
in the shell egg business (including disease, pests, weather conditions and potential for recall), including but
not limited to the most recent outbreak of highly pathogenic avian influenza affecting poultry in the U.S.,
Canada and other countries that was first detected in commercial flocks in the U.S. in February 2022,
Cal-Maine Foods, Inc. Issues Statement on Recent Court Verdict
Page 2
November 22, 2023
meet demand for cage-free and other specialty eggs, (v) risks, changes or obligations that could result from
our future acquisition of new flocks or businesses and risks or changes that may cause conditions to completing
a pending acquisition not to be met, (vi) risks relating to increased costs and higher and potentially further
increases in inflation and interest rates, which began in response to market conditions caused in part by the
COVID-19 pandemic and which generally have been exacerbated by the Russia-Ukraine war that began in
February 2022, (vii) our ability to retain existing customers, acquire new customers and grow our product
mix, and (viii) adverse results in pending litigation matters. SEC filings may be obtained from the SEC or the
Company’s website
,
looking statements because, while we believe the assumptions on which the forward-looking statements are
based are reasonable, there can be no assurance that these forward-looking statements will prove to be
accurate. Further, the forward-looking statements included herein are only made as of the respective dates
thereof, or if no date is stated, as of the date hereof. Except as otherwise required by law, we disclaim any
intent or obligation to publicly update these forward-looking statements, whether as a result of new
information, future events or otherwise.
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