A federal judge in Minnesota has granted preliminary approval of a class action settlement requiring Tyson Foods Inc. to pay $85 million to resolve claims it conspired to fix pork prices.
The money is to be paid to consumers.
The court found that the settlement, reached after arm’s-length negotiations by experienced counsel, “falls within the range of possible approval” and is fair, reasonable and adequate for the class. A final fairness hearing will be scheduled before the court gives full approval.
The settlement covers consumers in more than 20 states and the District of Columbia who indirectly purchased raw pork products such as bacon, loins, ribs, and chops between June 28, 2014, and June 30, 2018. Organic, marinated and seasoned products are excluded.
