Tyson Foods to pay $85 million in largest pork price-fixing settlement
Tyson Foods agreed to pay $85 million to settle a lawsuit by consumers who accused the largest U.S. meat company of conspiring with rivals to inflate pork prices by limiting supply in the $20 billion U.S. market
Tyson Foods agreed to pay $85 million to settle a lawsuit by consumers who accused the largest U.S. meat company of conspiring with rivals to inflate pork prices by limiting supply in the $20 billion U.S. market.
The preliminary class action settlement disclosed on Wednesday is the largest in more than seven years of antitrust litigation by the consumers against pork producers, surpassing Smithfield Foods’ $75 million settlement in 2022.
It would boost consumers’ overall recovery to $208 million, including settlements with Brazil’s JBS, Hormel Foods and other defendants.
Tyson, based in Springdale, Arkansas, is the last publicly traded company to settle.
Its settlement requires approval by U.S. District Judge John Tunheim in Minneapolis.
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