Tyson chicken price-fixing settlement includes $99M for consumers

Tyson Foods Inc. will pay $99 million to consumer members of the class of plaintiffs that accused the processor of fixing prices for broilers along with other poultry companies, according to court documents filed this week.

In January, Tyson announced it agreed to pay a total of $221.5 million to settle all of the price-fixing allegations that were originally filed in 2016. Tyson reached a preliminary agreement covering compensation for the End-User Consumer Plaintiffs (EUCPs) and funds to cover their litigation fees and expenses, according to the filing released this week. The EUCPs, in turn, will release Tyson from “any and all” claims, including those covering the period between Jan. 1, 2009 through Dec. 31, 2020.

The company previously announced a settlement with the Direct Purchaser Plaintiffs (DPPs) – the retailers that also sued poultry companies over alleged price-fixing for chicken products – although details on that agreement have yet to be formally released.

A federal judge in Chicago last month issued preliminary approval for Tyson to pay $80 million to cover a settlement with wholesalers. That could leave $42.5 million available for Tyson’s retail customers participating in the lawsuit based on the various settlement figures confirmed so far.

The latest settlement ruling also calls for Fieldale Farms Corp. to provide $1.7 million, George’s Farms Inc. to pay $1.9 million and Peco Foods Inc. to pay $1.9 million to settle claims against those poultry companies filed by the EUCPs, according to court documents.

Par Chris Scott (03/03/2021)

Source : Meatingplace.com

Photo : Pexels