Smithfield has agreed to pay $75 million to settle a class-action price-fixing lawsuit with consumers who bought its pork .
It previously agreed to pay $83 million to “direct” purchasers and $42 million to restaurants and commercial purchasers in a settlement reached in September and approved this week by Judge John Tunheim.
Pork consumers last year settled with JBS SA for $20 million.
"This settlement eliminates a substantial portion of our remaining exposure in the antitrust litigation for an amount that we believe is in the best interests of our company, as well as our employees, customers and consumers," said Jim Monroe, Smithfield vice president of corporate affairs.
As part of the settlements, Smithfield and JBS agreed to cooperate in the consumers' claims against six other non-settling defendants including Hormel Foods Corp and Tyson Foods Inc.
The judge awarded nearly $25 million in legal fees to the plaintiffs' firms representing the consumer class.
