Farm Pride Foods Limited
(ASX:FRM) says the Federal Court has cleared it of any wrongdoing in an alleged egg cartel attempt.
The egg supplier and a number of other parties in the egg industry were being investigated by the ACCC which instigated proceeding in the Federal Court in May 2014.
The watchdog was alleging Farm Pride and other parties were inducing producers into an arrangement to cull hens to reduce the amount of eggs available for supply therefore driving up prices.
Farm Pride Foods says it understand the ACCC is now reviewing its position.
Farm Pride Foods reported a full year net profit of $5.05 million to the end of June 2015.
