Benzinga | Dec 17, 2020 11:42AM EST

Tyson Fires 7 Managers For Placing Bets On Employees Who Contracted COVID-19

Food company Tyson Foods, Inc. (NYSE:TSN) said Wednesday that it fired seven plant management employees after an independent investigation found evidence of a COVID-19 betting pool.

What Happened: Tyson supervisors and managers at a pork processing plant in Waterloo, Iowa were betting on how many workers would contract COVID-19.

The investigation into the betting pool was added to a wrongful death lawsuit filed over the summer.

According to an investigation that included the services of former Attorney General Eric Holder, Tyson supervisors and managers were betting on how many people would get sick while denying knowledge of the spread of the virus, according to CNN.

The findings of the investigation resulted in the termination of the employees.

"The behaviors exhibited by these individuals do not represent the Tyson core values, which is why we took immediate and appropriate action to get to the truth," Dean Banks, Tyson's president and CEO, said in a statement.

"Now that the investigation has concluded, we are taking action based on the findings."

Why It's Important: More than one out of three Tyson workers at the plant had contracted COVID-19 by early May, according to CNN.

The company shut down its facility and reopened with enhanced safety precautions and social distancing measures.

What's Next: The lawsuit also alleges Tyson failed to take sufficient steps to protect its workers and even encouraged them not to stay home when they were sick.

TSN Price Action: Tyson shares were down 0.34% at $65.01 at last check Thursday.