Tyson to Pay $4.6 Million to Settle Turkey Price-Fixing Case
Tyson to Pay $4.6 Million to Settle Turkey Price-Fixing Case
Tyson Foods has agreed to pay $4.62 million to resolve its portion of a lawsuit that accuses Tyson and its competitors of fixing prices for turkey. In addition to the monetary relief, Tyson agreed to provide “meaningful cooperation” to assist the plaintiffs in their claims against the remaining defendants, which include Butterball LLC, Cargill Inc., Hormel Foods Corp., Perdue Foods LLC, and others.
The lawsuit was filed in December 2019 in Illinois federal court by purchasers of turkey products. The purchasers allege that Tyson and other major turkey processors illegally traded confidential price data through a platform called Agri Stats Inc. and used the information to cut supply of the birds and bump prices to artificially high levels for seven years.
Tyson’s settlement was preliminarily approved by Judge Virginia M. Kendall on May 25th.
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