Tyson Foods Settles Pork Price-Fixing Lawsuit for $85M
Tyson Foods has agreed to pay $85 million to settle a lawsuit alleging pork price-fixing, becoming the last publicly traded company to do so in a long-running antitrust case. The settlement boosts consumers' overall recovery to $208 million and requires approval by U.S. District Judge John Tunheim in Minneapolis.
The alleged price-fixing conspiracy ran from 2009 to 2018 and involved dozens of supermarket chains, restaurant chains, food producers, and distributors also suing over pork prices. The settlement surpasses Smithfield Foods' $75 million settlement in 2022, making it the largest in over seven years of antitrust litigation against pork producers.
Similar litigation alleging price-fixing of beef, chicken, and turkey is pending in Minnesota and Chicago federal courts. Triumph Foods and data provider Agri Stats remain defendants in the pork price-fixing lawsuit.
With Tyson Foods' settlement, all major publicly traded pork producers have now reached settlements in the price-fixing case. The total recovery for consumers has reached $208 million, reflecting the significant impact of the alleged conspiracy on the market.
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