No terms have been disclosed.
BPI said "we are extraordinarily pleased to have
reached a settlement of our lawsuit against ABC and (reporter) Jim Avila.
“While this has not been an easy road to travel, it was
necessary to begin rectifying the harm we suffered as a result of what we
believed to be biased and baseless reporting in 2012.
“Through this process, we have again established what we all
know to be true about Lean Finely Textured Beef: it is beef, and is safe,
wholesome, and nutritious.
“This agreement provides us with a strong foundation on
which to grow the business, while allowing us to remain focused on achieving
the vision of the Roth and BPI family."
ABC said it is “an amicable resolution of its dispute with
the makers of 'lean finely textured beef.'
“Throughout this case, we have maintained that our reports
accurately presented the facts and views of knowledgeable people about this
product.
“Although we have concluded that continued litigation of
this case is not in the Company’s interests, we remain committed to the
vigorous pursuit of truth and the consumer’s right to know about the products
they purchase.”
BPI sued over ABC’s series of reports in spring 2012 that
raised questions about LFTB’s suitability for human consumption. The case was
being tried in Circuit Court in Elk Point, South Dakota. BPI hoped to be
awarded up to three times the original amount sought for “product
disparagement.”
BPI closed three of four processing plants and laid off some
700 people in March 2012 after demand for LFTB plummeted.
