JBS USA agreed to pay $20 million to settle a consumer class-action lawsuit alleging the company conspired to fix prices for pork. The settlement states that JBS will pay the money into a settlement fund that will be used to compensate the consumer class and cover litigation fees and expenses, Meat + Poultry reports.
The deal, docketed in the U.S. District Court for the District of Minnesota, is the second eight-figure settlement to be reached by the company, which will also pay $24.5 million to resolve parallel wholesaler claims as part of an agreement that got tentative approval in January from Judge John R. Tunheim, according to Bloomberg Law.
Judge Tunheim said the proposed settlement is “fair, reasonable, adequate and in the best interests” of the plaintiffs, who accused JBS and its operating units of fixing pork product prices since 2009. The ruling also says the settlement should not be considered an admission of guilt, evidence of violation of any laws or regulations or an admission of any wrongdoing by JBS.
The filing added that the plaintiffs are to be notified within 60 days, which will then lead to a hearing on final approval of the settlement plan.
More from Farm Journal’s PORK:
Judge Grants Preliminary Approval for $24.5 Million Settlement in JBS Antitrust Suit
Judge Dismisses Antitrust Suits Against U.S. Pork Companies
JBS Pork Antitrust Lawsuit Plaintiffs Seek $24.5 Million Settlement
