$83M Deal Chops Smithfield From Direct Buyers' Pork Suit

Law360 (June 30, 2021, 6:00 PM EDT) -- Smithfield Foods has reached a tentative $83 million settlement to resolve antitrust claims in Minnesota federal court from direct buyers that accuse giants in the meat industry of scheming to inflate pork prices, the company said.

The settlement, which must get a federal judge's approval, would clear up claims against Smithfield Foods Co. from food distributors and grocers that buy meat directly from producers. Smithfield has also been named in other suits wrapped into the multidistrict litigation, including claims from indirect purchasers.

Generally the proposed class actions filed in 2018 allege that Smithfield and other large producers, with help from an industry...

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