Tyson Foods to pay $221 million to resolve some price-fixing claims

Tyson Foods has announced it will pay $221.5 million to settle claims of price-fixing by three groups of plaintiffs. Reuters reports that the settlements resolve litigation by end-user consumers, commercial purchasers and purchasers that brought chickens directly from Tyson and will require approval by a federal judge in Chicago.

Tyson did not admit liability in agreeing to settle, and said the payments will be reflected in its first-quarter financial statements. The company still faces price-fixing claims by restaurant chains, supermarket operators and food distributors.

Pilgrim’s Pride agreed on January 11 to pay $$75 million to settle claims by direct purchasers of chickens. Other cases against various poultry companies are still pending.

Source: Reuters

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