Tyson Foods, Inc. TSN 0.04% shares were down 8.9 percent on Friday following a complaint of alleged collusion among chicken producers.

Pilgrim’s Pride Corporation PPC 0.87% and Sanderson Farms, Inc. SAFM 0.38% shares also sold off more than 4 percent each on the news.

JPMorgan analyst Ken Goldman doesn’t believe the complaint will ultimately have much of an impact on the companies mentioned above. Instead, he believes that much of Tyson’s Friday selloff can be attributed to a Pivotal downgrade on Friday. The firm cut Tyson’s rating from Buy to Sell.

JPMorgan, on the other hand, maintains its Neutral rating for Tyson.

“At this time, there seems to be insufficient evidence in the complaint, in our opinion, of any meetings, conversations, or any actual collusion,” Goldman explains.

According to Goldman, the complaint is primarily focused on the fact that the chicken industry pools certain anonymous data on plant efficiency. The complaint alleges that the industry may have cut back production based on this data and artificially restrained supply.

In fact, JPMorgan believes…

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