Tyson Agrees to Pay $85M Settlement in Price-Fixing Lawsuit

Tyson Foods has agreed to pay $85 million to settle a class action lawsuit that accuses the company of conspiring with JBS and other meatpacking giants to artificially raise pork prices.

The settlement is the largest payout in a price-fixing case that has been ongoing for seven years. Previously, the largest settlement was Smithfield Foods’ $75 million agreement in late 2022. 

The latest lawsuit alleges the meat and poultry processor conspired with other major producers to use the tech platform Agri Stats and raise prices by intentionally constraining pork supply. Meatpackers also face similar cases related to turkey and beef supply.

Read more at Food Dive