Monday, April 19, 2021

JBS settles third pork price-fixing lawsuit

JBS has agreed to pay $13 million to settle a class-action pork price-fixing lawsuit brought by commercial and indirect purchasers.

The purchasers include Sandee’s Bakery, Joe’s Steak and Leaf, The courts have accepted the agreement as preliminary; it is due to receive final approval late this month.

There has been no admission of any liability or wrongdoing.

In December, JBS received court approval pay $25.5 million to settle a larger class action suit filed by direct purchaser plaintiffs who accused the company of illegally fixing pork prices starting in 2009. 

The two sides reached a preliminary agreement to settle the case also presided by the same Judge Tunheim in November 2020.

 In March, the court approved a preliminary settlement agreement that called for JBS to pay $20 million to consumers.

Yup. They didn't do anything wrong or illegal, but boy do they ever pay a lot in compensation!