Tyson Foods settles US beef price-fixing lawsuit for $82.5 million
Tyson Foods will pay $82.5 million to settle a lawsuit alleging they conspired to inflate U.S. beef prices.Summary
Tyson Foods has agreed to a $82.5 million settlement in a class-action lawsuit brought by grocers and other businesses. The plaintiffs accused Tyson of conspiring to inflate U.S. beef prices by restricting supply between 2015 and 2022. This settlement follows a similar $52.5 million agreement with JBS USA, and a $55 million settlement with consumers over related price-fixing claims. Tyson, along with Cargill and National Beef, were among the major beef producers accused of inflating prices for retail sale-ready beef cuts. While Tyson has not admitted wrongdoing, this settlement marks a significant development in the ongoing antitrust litigation, with two defendants remaining. Separately, Tyson also agreed to pay $85 million to settle a pork price-fixing lawsuit.
(Source：Reuters)