A federal judge in Minnesota has given final approval to a $47 million settlement between Tyson Foods and businesses that bought beef indirectly, resolving their antitrust claims against the company in the long-running beef antitrust case, Meatingplace reported.
U.S. District Judge John Tunheim signed off on the beef deal Oct. 8. A day later he approved Tyson's separate $48 million settlement with the same kind of buyers in the pork antitrust case, bringing the two agreements to $95 million.
Both settlements cover Tyson Foods Inc., Tyson Fresh Meats Inc. and Tyson Prepared Foods Inc., and resolve claims from businesses that bought meat indirectly for commercial food preparation, a group the case describes as commercial and institutional indirect purchasers.
What the beef deal covers
The beef class includes qualifying purchases of boxed or case-ready beef from fed cattle between Jan. 1, 2015, and May 6, 2026. Ground beef made only from culled cows is excluded. Besides paying $47 million into a settlement fund, Tyson agreed to help the plaintiffs as they continue their case against the defendants that have not settled.
Tunheim found the agreement fair, reasonable and adequate. He said the payment gets money to buyers sooner and spares them the cost of fighting Tyson further, and that Tyson's cooperation could strengthen the case against the remaining defendants. No class members objected.
