MINNEAPOLIS, MN – JBS SA will pay $20 million to resolve consumer antitrust claims over its alleged role in an industry-wide scheme to fix the price of pork through coordinated public statements and secret data exchanges, according to a federal court filing in Minneapolis.
JBS USA has agreed to pay $20 million to consumers to settle a class-action lawsuit alleging the company of fixing pork prices since 2009.
A federal judge approved the preliminary agreement and said the proposed settlement is “fair, reasonable, and in the best interests of the plaintiffs”. The $20 million will be paid into a settlement fund.
The ruling says the settlement is not considered an admission of guilt, evidence of violation of any laws or regulations, or an admission of any wrongdoing by JBS.
This is the second eight figure settlement reached by JBS. In November, JBS agreed to settle a similar lawsuit, filed by direct purchasers, accusing the company of illegally fixing pork prices. The same judge approved a payment of $24.5 million to a settlement fund covering members of that class in January.