Tyson Foods, Others Settle Pork Price-Fixing Suit for $64 Million

Tyson Foods and two other pork processors have reached a combined $64 million settlement in a class-action lawsuit accusing them of conspiring to inflate pork prices, according to Reuters. The agreement brings the total amount recovered in the case to over $180 million and marks a significant development in the long-standing antitrust battle.

In a filing submitted Tuesday, lawyers representing pork buyers requested preliminary approval of the settlements from U.S. District Judge John Tunheim in Minnesota. The three companies involved — Tyson Foods, Clemens Food Group, and Triumph Foods — all continue to deny wrongdoing but agreed to settle to avoid the continued cost and uncertainty of litigation, per Reuters.

Under the proposed deal, Tyson will pay $50 million, the largest share among the three. Clemens Food will contribute $10 million, while Triumph Foods has agreed to a $4 million payment. The companies did not immediately respond to requests for comment regarding the settlements.

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The litigation stems from a 2018 lawsuit alleging that several major pork producers engaged in a coordinated effort to artificially raise prices, violating U.S. antitrust laws. Judge Tunheim has presided over multiple related lawsuits, including those brought by both consumers and commercial buyers.

The class covered by the new settlements includes food service providers and other businesses that directly purchased pork products from the defendants between 2014 and 2018. Notable class members include Maplevale Farms, Ferraro Foods, and Olean Wholesale Grocery Cooperative.

Attorneys for the plaintiffs declined to comment on the latest settlement developments.

Source: Reuters