
Potential Settlement in Antitrust Case
The National Farmers Union, R-CALF USA, and four fed cattle producers who filed a class-action antitrust lawsuit against JBS, Tyson, Cargill, and National Beef filed a motion looking for preliminary approval of a settlement.
The motion was filed in a U.S. District Court for Minnesota last week, and seeks approval of a proposed $83.5 million class action settlement with the defendants. Through their representation, the plaintiffs agreed to the proposed settlement, which includes an $83.5 million cash payment and certain non-monetary considerations. The settlement is not an admission of liability by JBS, which continues to deny any wrongdoing.
“We are pleased to have reached a significant milestone in the case with the JBS settlement. We look forward to prosecuting our claims against the remaining Defendants, Tyson, Cargill and National Beef,” said NFU President Rob Larew. “Outside of the litigation, NFU’s work to restore pricing transparency and competitiveness for family farmers and ranchers continues.”
“We’re pleased to have reached this settlement with JBS and we look forward to prosecuting our claims against the remaining Defendants, Tyson, Cargill and National Beef,” said R-CALF USA CEO Bill Bullard.
More details regarding the settlement, including who may be covered by its terms, will be available Here.
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