Pork Buyers Seek Initial Approval Of $24.5M JBS Settlement - Law360

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Law360 (December 1, 2020, 9:38 PM EST) -- Direct buyers moved for preliminary approval on Tuesday of a $24.5 million deal with JBS USA Food Co. that also comes with a company pledge to provide "material cooperation" to the plaintiffs, in what is the first settlement in a massive Minnesota federal court case accusing pork producers of conspiring to raise prices.

The proposed class action settlement is both the "first 'ice-breaker' settlement in this litigation" and offers "significant and substantial relief" thanks to the financial payout and cooperation against JBS's fellow pork producers, which include Tyson and Hormel, according to the brief.

"[T]he settlement agreement is the product of...

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December 02, 2020 at 09:38AM
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Pork Buyers Seek Initial Approval Of $24.5M JBS Settlement - Law360

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