The nation’s biggest beef processor have reached an 87 million dollars settlement. A website launched for the settlement says the antitrust class action lawsuit was brought against several beef processors including Tyson Foods, Cargill, National Beef and JBS by a group of consumers. The companies are accused of entering into “a market allocation agreement” allowing them to stop competing for market share. The U.S. District Court for the District of Minnesota said the agreement served as a way to increase margins and prices paid by consumers. While the companies have not admitted wrongdoing Tyson Foods and Cargill have agreed to settlements of 55 million dollars and 32-point-five million dollars.
***Courtesy of Total Traffic News***
