Tyson Foods is paying $82.5 million (about $115 million Cdn) to settle a lawsuit charging it with price-fixing in marketing beef to direct purchasers.
A federal judge in Minnesota recently approved the settlement.
The deal was reached in December among Tyson Foods Inc., Tyson Fresh Meats Inc. and direct purchaser plaintiffs..
According to the order, the settlement followed arm’s-length negotiations conducted with the assistance of an experienced mediator. The court found the agreement fell “within the range of possible approval” and preliminarily determined it to be fair, reasonable and adequate.
