Partial Settlement: In re Cattle and Beef Antitrust Litigation
JBS has agreed to pay $52.5 million in partial settlement of litigation accusing it, and other meat packing companies, of anti-trust violations by conspiring to limit supply in the beef market to inflate prices and maximize profit margins for the meat packing companies. There is no admission of wrongdoing as part of the settlement.
The case, In re: Cattle and Beef Antitrust Litigation, was filed in 2020 in the U.S. District Court, District of Minnesota (Case No. 20-01319).
The preliminary settlement by JBS is with the plaintiff class of direct purchasers. JBS has indicated it will continue to defend its interests against the other plaintiff classes. Chief Judge John Tunheim must approve the settlement. No other settlements have been reached. Other defendants in this litigation include Cargill, National Beef Packing Company, Tyson Foods, and Swift Beef Company.