Monday, January 18, 2021

JBS pays $24.5 million for hog price-fixing

JBS is paying $24.5 million to settle a price-fixing case involving hogs.

A federal judge in Minnesota has granted preliminary approval to the settlement with wholesalers who filed a class-action lawsuit. It does not settle claims by retailers and consumers.

It also includes a pledge by JBS to cooperate against other pork processors named as defendants in the suit, Bloomberg Law said. 

In addition to JBS, the lawsuit also named affiliates of Tyson Foods Inc., Hormel Foods Corp., Clemens Food Group LLC, Seaboard Foods LLC, Smithfield Foods Inc., Triumph Foods Inc., and Agri Stats Inc.. which is a subsidiary of Eli Lilly & Co.