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TYSON FOODS AGREES TO $221 MILLION SETTLEMENT IN PRICE-FIXING LAWSUIT
Jan. 21, 2021
BrownfieldAgNews reports:
Tyson Foods has agreed to $221.5 million to settle all claims related to the long-running price-fixing lawsuits filed against Tyson and other poultry processing companies. This is the largest price-fixing settlement to date.
Settlement terms included the Direct Purchaser Plaintiff Class, the Commercial and Institutional Indirect Plaintiff Class, and the End-User Plaintiff Class. Tyson says they do not admit liability as part of the settlement, but believes the settlements were in the best interest of Tyson and its shareholders.
According to the filing, the settlement will be reflected in Tyson's first quarter 2021 financial statements.
Tyson recently announced it had agreed to settle with the DPP Class, details of the settlement price have not been disclosed. Earlier this month Pilgrim's Pride proposed a settlement with the DPP Class of $75 million.
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