This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Seaboard Corporation operates large-scale pork and poultry factory farming operations and holds a 52.5% controlling interest in Butterball LLC, one of the largest turkey producers in the United States. Seaboard Foods settled pork price-fixing litigation for a combined $24.71 million across multiple plaintiff classes: $9.75 million to direct purchasers, $4.96 million to commercial and institutional indirect purchasers, and $10 million to consumer indirect purchasers. The conspiracy allegedly fixed, raised, and stabilized pork prices beginning at least as early as June 2014 in violation of federal antitrust laws. Butterball has separately been named in turkey price-fixing litigation alleging that major turkey companies conspired to fix prices by sharing confidential sales, production, and wage data. The FAIRR Protein Producer Index tracks Seaboard for animal welfare and environmental concerns across its integrated pork and feed operations.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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